Blunt Instruments: Avoiding Common Pitfalls in Identifying the Causes of Economic Growth

被引:295
作者
Bazzi, Samuel [1 ]
Clemens, Michael A. [2 ]
机构
[1] Univ Calif San Diego, La Jolla, CA 92093 USA
[2] Ctr Global Dev, Washington, DC 20036 USA
关键词
PANEL-DATA; MONTE-CARLO; GMM; TRADE; MOMENTS; MATTER; INCOME; TESTS; SPECIFICATION; DETERMINANTS;
D O I
10.1257/mac.5.2.152
中图分类号
F [经济];
学科分类号
02 ;
摘要
Concern has intensified in recent years that many instrumental variables used in widely-cited growth regressions may be invalid, weak, or both. Attempts to remedy this general problem remain inadequate. We show how a range of published studies can offer more evidence that their results are not spurious. Key steps include: grounding growth regressions in more generalized theoretical models, deployment of new methods for estimating sensitivity to violations of exclusion restrictions, opening the "black box" of GMM with supportive evidence of instrument strength, and utilization of weak-instrument robust tests and estimators. (JEL C52, E23, F35, O41, O47)
引用
收藏
页码:152 / 186
页数:35
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