Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys
Investment climate Surveys are valuable instruments that improve our understanding of the economic, social, political, and institutional factors determining economic growth, particularly in emerging and transition economies. However, at the same ti...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100623140811 http://hdl.handle.net/10986/3832 |
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okr-10986-38322021-04-23T14:02:13Z Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys Escribano, Alvaro Pena, Jorge Guasch, J. Luis ALGORITHMS BENCHMARK BIASES BOOTSTRAP BUSINESS ENVIRONMENT CLASSIFICATION CLASSIFYING CLUSTERING COMPETITIVENESS COMPUTATION CUSTOMS DESCRIPTION DESCRIPTIVE STATISTICS E-MAIL ECONOMETRIC ANALYSIS ECONOMETRIC MODELS ECONOMIC PERFORMANCE ELECTRICITY ENTERPRISE SURVEYS EQUATIONS EQUIPMENT EXOGENOUS VARIABLES EXPORTS FOREIGN CURRENCY IMPUTATION METHOD IMPUTATION PROCESS INDEPENDENT VARIABLES INNOVATION INSPECTIONS INTANGIBLE ASSETS LICENSE LINEAR REGRESSION MANUFACTURING MARKET SHARE MARKETING MATRICES MATRIX MEASUREMENT ERRORS MISSING DATA MISSING OBSERVATIONS MISSING VALUE MISSING VALUES MULTIPLE IMPUTATION MULTIPLE IMPUTATIONS NEW TECHNOLOGIES NEW TECHNOLOGY NORMAL DISTRIBUTIONS OUTLIERS OUTSOURCING PRIVATE SECTOR PROBABILITY PROBABILITY MODELS PRODUCT INNOVATION PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PUBLISHING R&D RANDOM SAMPLING REGRESSION ANALYSIS RESEARCHER RESEARCHERS RESULT RESULTS SAMPLE SELECTION SAMPLE SIZE SENSITIVITY ANALYSIS STANDARD DEVIATION STANDARD ERRORS STATISTICAL ANALYSES STATISTICAL ANALYSIS STATISTICAL METHODS STATISTICIANS TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRANSITION ECONOMIES USES VALIDITY WEB WEB PAGE Investment climate Surveys are valuable instruments that improve our understanding of the economic, social, political, and institutional factors determining economic growth, particularly in emerging and transition economies. However, at the same time, they have to overcome some difficult issues related to the quality of the information provided; measurement errors, outlier observations, and missing data that are frequently found in these datasets. This paper discusses the applicability of recent procedures to deal with missing observations in investment climate surveys. In particular, it presents a simple replacement mechanism -- for application in models with a large number of explanatory variables -- which in turn is a proxy of two methods: multiple imputations and an export-import algorithm. The performance of this method in the context of total factor productivity estimation in extended production functions is evaluated using investment climate surveys from four countries: India, South Africa, Tanzania, and Turkey. It is shown that the method is very robust and performs reasonably well even under different assumptions on the nature of the mechanism generating missing data. 2012-03-19T18:40:36Z 2012-03-19T18:40:36Z 2010-06-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100623140811 http://hdl.handle.net/10986/3832 English Policy Research working paper ; no. WPS 5346 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper Southern Africa India Tanzania Turkey |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ALGORITHMS BENCHMARK BIASES BOOTSTRAP BUSINESS ENVIRONMENT CLASSIFICATION CLASSIFYING CLUSTERING COMPETITIVENESS COMPUTATION CUSTOMS DESCRIPTION DESCRIPTIVE STATISTICS ECONOMETRIC ANALYSIS ECONOMETRIC MODELS ECONOMIC PERFORMANCE ELECTRICITY ENTERPRISE SURVEYS EQUATIONS EQUIPMENT EXOGENOUS VARIABLES EXPORTS FOREIGN CURRENCY IMPUTATION METHOD IMPUTATION PROCESS INDEPENDENT VARIABLES INNOVATION INSPECTIONS INTANGIBLE ASSETS LICENSE LINEAR REGRESSION MANUFACTURING MARKET SHARE MARKETING MATRICES MATRIX MEASUREMENT ERRORS MISSING DATA MISSING OBSERVATIONS MISSING VALUE MISSING VALUES MULTIPLE IMPUTATION MULTIPLE IMPUTATIONS NEW TECHNOLOGIES NEW TECHNOLOGY NORMAL DISTRIBUTIONS OUTLIERS OUTSOURCING PRIVATE SECTOR PROBABILITY PROBABILITY MODELS PRODUCT INNOVATION PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PUBLISHING R&D RANDOM SAMPLING REGRESSION ANALYSIS RESEARCHER RESEARCHERS RESULT RESULTS SAMPLE SELECTION SAMPLE SIZE SENSITIVITY ANALYSIS STANDARD DEVIATION STANDARD ERRORS STATISTICAL ANALYSES STATISTICAL ANALYSIS STATISTICAL METHODS STATISTICIANS TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRANSITION ECONOMIES USES VALIDITY WEB WEB PAGE |
| spellingShingle |
ALGORITHMS BENCHMARK BIASES BOOTSTRAP BUSINESS ENVIRONMENT CLASSIFICATION CLASSIFYING CLUSTERING COMPETITIVENESS COMPUTATION CUSTOMS DESCRIPTION DESCRIPTIVE STATISTICS ECONOMETRIC ANALYSIS ECONOMETRIC MODELS ECONOMIC PERFORMANCE ELECTRICITY ENTERPRISE SURVEYS EQUATIONS EQUIPMENT EXOGENOUS VARIABLES EXPORTS FOREIGN CURRENCY IMPUTATION METHOD IMPUTATION PROCESS INDEPENDENT VARIABLES INNOVATION INSPECTIONS INTANGIBLE ASSETS LICENSE LINEAR REGRESSION MANUFACTURING MARKET SHARE MARKETING MATRICES MATRIX MEASUREMENT ERRORS MISSING DATA MISSING OBSERVATIONS MISSING VALUE MISSING VALUES MULTIPLE IMPUTATION MULTIPLE IMPUTATIONS NEW TECHNOLOGIES NEW TECHNOLOGY NORMAL DISTRIBUTIONS OUTLIERS OUTSOURCING PRIVATE SECTOR PROBABILITY PROBABILITY MODELS PRODUCT INNOVATION PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PUBLISHING R&D RANDOM SAMPLING REGRESSION ANALYSIS RESEARCHER RESEARCHERS RESULT RESULTS SAMPLE SELECTION SAMPLE SIZE SENSITIVITY ANALYSIS STANDARD DEVIATION STANDARD ERRORS STATISTICAL ANALYSES STATISTICAL ANALYSIS STATISTICAL METHODS STATISTICIANS TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRANSITION ECONOMIES USES VALIDITY WEB WEB PAGE Escribano, Alvaro Pena, Jorge Guasch, J. Luis Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys |
| geographic_facet |
Southern Africa India Tanzania Turkey |
| relation |
Policy Research working paper ; no. WPS 5346 |
| description |
Investment climate Surveys are valuable
instruments that improve our understanding of the economic,
social, political, and institutional factors determining
economic growth, particularly in emerging and transition
economies. However, at the same time, they have to overcome
some difficult issues related to the quality of the
information provided; measurement errors, outlier
observations, and missing data that are frequently found in
these datasets. This paper discusses the applicability of
recent procedures to deal with missing observations in
investment climate surveys. In particular, it presents a
simple replacement mechanism -- for application in models
with a large number of explanatory variables -- which in
turn is a proxy of two methods: multiple imputations and an
export-import algorithm. The performance of this method in
the context of total factor productivity estimation in
extended production functions is evaluated using investment
climate surveys from four countries: India, South Africa,
Tanzania, and Turkey. It is shown that the method is very
robust and performs reasonably well even under different
assumptions on the nature of the mechanism generating
missing data. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Escribano, Alvaro Pena, Jorge Guasch, J. Luis |
| author_facet |
Escribano, Alvaro Pena, Jorge Guasch, J. Luis |
| author_sort |
Escribano, Alvaro |
| title |
Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys |
| title_short |
Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys |
| title_full |
Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys |
| title_fullStr |
Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys |
| title_full_unstemmed |
Empirical Econometric Evaluation of Alternative Methods of Dealing with Missing Values in Investment Climate Surveys |
| title_sort |
empirical econometric evaluation of alternative methods of dealing with missing values in investment climate surveys |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100623140811 http://hdl.handle.net/10986/3832 |
| _version_ |
1764388573830709248 |