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

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

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