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

G. Bresson, J.-M. Etienne, P. Mohnen

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Abstract

This paper proposes a Bayesian approach to estimate a factor augmented
productivity equation. We exploit the panel dimension of our data and
distinguish individual-specific and time-specific factors. On the basis
of 21 technology, infrastructure and institution indicators from 82
countries over a 19-year period (1990 to 2008), we construct summary
indicators of these three components and estimate their effect on the
growth and the international differences in GDP per capita.
Original languageEnglish
Place of PublicationMaastricht
PublisherUNU-MERIT
Publication statusPublished - 1 Jan 2014

Publication series

SeriesUNU-MERIT Working Papers
Number052

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