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Sample sizes in cross-country growth regressions vary greatly, depending on data availability. But if the selected samples are not representative of the underlying population of nations in the world, ordinary least squares coefficients (OLS) may be biased. This paper re-examines the determinants of economic growth in cross-sectional samples of countries utilizing econometric techniques that take into account the selective nature of the samples. The regression results of three major contributions to the empirical growth literature by Mankiw-Romer-Weil (1992), Barro (1991) and Mauro (1995), are considered and re-estimated using a bivariate selectivity model. Our analysis suggests that sample selection bias could significantly change the results of empirical growth analysis, depending on the specific sample utilized. In the case of the Mankiw-Romer-Weil paper, the value and statistical significance of some of the estimated coefficients change drastically when adjusted for sample selectivity. But the results obtained by Barro and Mauro are robust to sample selection bias.
"... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
Annotation Uganda's recovery over the past 15 years from economic decline, conflict, and repressive government to macroeconomic stability, high growth, and considerable political freedom signifies a major turnaround in Africa. Uganda's postconflict recovery coincides with one of Africa's most ambitious programs of economic liberalization.
A vast new literature on the sources of economic growth has now accumulated. This book critically reviews the most significant works in this field and summarizes what is known today about the sources of economic growth. The first part discusses the most important theoretical models that have been used in modern growth theory as well as methodological issues in productivity measurement. The second part examines the long-term record on productivity among Organization for Economic Co-operation and Development (OECD) countries, considers the sources of growth among them with particular attention to the role of education, investigates convergence at the industry level among them, and examines the productivity slowdown of the 1970s. The third part looks at the sources of growth among non-OECD countries. Each chapter emphasizes the factors that appear to be most important in explaining growth performance.
Handbooks of development economics/ edit. Chenery.-v.1.
This book provides a systematic and coherent framework for understanding the interactions between the micro and macro dimensions of economic adjustment policies; that is, it explores short-run macroeconomic management and structural adjustment policies aimed at promoting economic growth. It emphasizes the importance of structural microeconomic characteristics in the transmission of policy shocks and the response of the economy to adjustment policies. It has particular relevance to the economics of developing countries. The book is directed to economists interested in an overview of the economics of reform; economists in international organizations, such as the UN, the IMF, and the World Bank, dealing with development; and economists in developing countries. It is also a text for advanced undergraduate students pursuing a degree in economic policy and management and students in political science and public policy.
This book brings together leading scholars in the field to provide insights on economics of education. The book begins with an overview of education and human capacity development and looks at the production of education through individuals’ learning, education financing, and the role of individual circumstances. It also analyses the complex relationship between education and mobility and highlights what key challenges for education systems in a global world are. Each chapter provides detailed analysis of interesting and policy-relevant topics in the fields of education economics and human capacity development. This book is a useful reference for those who wish to understand the changing landscape and models of higher education in the context of digital advances and innovation. It will also be of interest to those in the areas of education and training.