Weak Instruments in Growth Regressions : Implications for Recent Cross-Country Evidence on Inequality and Growth

This paper revisits four recent cross-country empirical studies on the effects of inequality on growth. All four studies report strongly significant negative effects, using the popular system generalized method of moments estimator that is frequent...

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Bibliographic Details
Main Author:	Kraay, Aart
Format:	Working Paper
Language:	English en_US
Published:	World Health Organization 2015
Subjects:	GROWTH RATES SIGNIFICANT RELATIONSHIP POINT ESTIMATE CAPITA INCOME POLITICAL ECONOMY CHANNEL ECONOMIC GROWTH SIGNIFICANT EFFECT DYNAMIC PANEL INCOME LAGGED GROWTH COUNTRY REGRESSIONS ECONOMIC REVIEW LAGGED LEVELS ECONOMICS LETTERS DEVELOPING COUNTRIES POLITICAL ECONOMY CROSS‐ COUNTRY DATA POLICY CIRCLES NEGATIVE RELATIONSHIP POLICY DISCUSSIONS POINT ESTIMATES EMPIRICAL GROWTH LITERATURE EMPIRICAL STUDIES ANNUAL GROWTH LOG INCOME INEQUALITY VARIABLES LAGGED VALUES CROSS‐COUNTRY DATA ENDOGENOUS VARIABLES EMPIRICAL LITERATURE INSTRUMENTS CROSS‐COUNTRY EVIDENCE REDISTRIBUTIVE EFFECTS STANDARD DEVIATION EMPIRICAL RESULTS ABSOLUTE VALUE PER CAPITA INCOME DEVELOPMENT ECONOMICS NEGATIVE GROWTH NEGATIVE IMPACT EMPLOYMENT EQUATIONS PANEL DATA SETS GROWTH EFFECT INEQUALITY MEASURES INCOME INEQUALITY SIGNIFICANCE LEVEL SIGNIFICANT NEGATIVE ECONOMETRICS ECONOMETRIC MODELS TRANSFERS EXPLANATORY VARIABLES PRODUCT GROWTH SPECIFICATION ECONOMIC RESEARCH POSITIVE RELATIONSHIP DEVELOPMENT RESEARCH CONSUMPTION HUMAN CAPITAL POLICIES ECONOMIC STUDIES SENSITIVITY ANALYSIS ESTIMATED COEFFICIENT DEPENDENT VARIABLE POLICY MAKERS MACROECONOMICS ERROR TERMS GROWTH LITERATURE INEQUALITY DATA NEGATIVE EFFECT COUNTRY‐SPECIFIC INCOME DISTRIBUTION LAGGED INEQUALITY ESTIMATED COEFFICIENTS CROSS‐ COUNTRY ERROR TERM REGRESSION SAMPLE COUNTRY DATA GROWTH EMPIRICS ECONOMICS EXPLANATORY POWER INEQUALITY MEASURE ECONOMIC INEQUALITY DATA SETS ECONOMIC DEVELOPMENT GROSS INCOME POSITIVE EFFECT GROWTH REGRESSIONS DATA SET GDP REDISTRIBUTIVE POLICIES GROWTH REGRESSION INCOME SHARES LONG‐RUN AVERAGE ANNUAL POLICY IMPLICATIONS GINI COEFFICIENT EMPIRICAL EVIDENCE POSITIVE GROWTH POLICY RESEARCH INCREASE GROWTH CROSS‐COUNTRY INCOME COEFFICIENT LAGGED CHANGES DEVELOPMENT POLICY INEQUALITY PUBLIC GOODS GROWTH
Online Access:	http://documents.worldbank.org/curated/en/2015/11/25462798/weak-instruments-growth-regressions-implications-recent-cross-country-evidence-inequality-growth http://hdl.handle.net/10986/23456

Internet

http://documents.worldbank.org/curated/en/2015/11/25462798/weak-instruments-growth-regressions-implications-recent-cross-country-evidence-inequality-growth
http://hdl.handle.net/10986/23456

Weak Instruments in Growth Regressions : Implications for Recent Cross-Country Evidence on Inequality and Growth

Internet

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