How important is innovation? A Bayesian factor-augmented productivity model on panel data

How important is innovation? A Bayesian factor-augmented productivity model on panel data

[SHS:ECO] Humanities and Social Sciences/Economy and finances

Bayesian factor-augmented model

innovation

MCMC

panel data

productivity

This paper proposes a Bayesian approach to estimate a factor augmented productivity equation. We exploit the panel dimension of our data and distinguish individual-specic and time-specic factors. On the basis of 14 technology and infrastructure indicators from 37 countries over a 10-year period (1998 to 2007), we construct summary indicators of these two components and estimate their e ect on the growth and the international diff erences in GDP per capita.

Bresson, Georges

Etienne, Jean-Michel

Mohnen, Pierre

2011-05

ENG

preprint

http://halshs.archives-ouvertes.fr/halshs-00812155

http://halshs.archives-ouvertes.fr/docs/00/81/21/55/PDF/11-06.pdf