Determinants of high-tech export in developing countries based on Bayesian model averaging

Given the importance and role of high-tech exports in economic growth, it is necessary to identify variables affecting export. Accordingly, in this article we studied the determinants of export for 24 developing countries during the period 1996 to 2013 based on Bayesian Model Averaging (BMA) and Weighted-Average Least Square (WALS) technique. The results show that rule of law as a proxy for Institutional quality, human capital, import (as a measure of openness) and GDP with posterior inclusion probability 100% are the most important variables influencing the high-technology export in developing countries.