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Full-Text Articles in Social and Behavioral Sciences
The Effect Of Public Debt On Growth In Multiple Regimes, Andros Kourtellos, Thanasis Stengos, Chih Ming Tan
The Effect Of Public Debt On Growth In Multiple Regimes, Andros Kourtellos, Thanasis Stengos, Chih Ming Tan
Economics & Finance Faculty Publications
We employ a structural threshold regression methodology to investigate the heterogeneous effects of debt on growth using public debt as a threshold variable as well as several other plausible variables. Our methodology allows us to address parameter heterogeneity that characterizes cross-country growth data and at the same time account for endogeneity. We find strong evidence for threshold effects based on democracy, which implies that higher public debt results in lower growth for countries in the Low-Democracy regime. Our results are consistent with the presence of parameter heterogeneity in the cross-country growth process due to fundamental determinants of economic growth proposed …
Failure To Launch? The Role Of Land Inequality In Transition Delays, Andros Kourtellos, Ioanna Stylianou, Chih Ming Tan
Failure To Launch? The Role Of Land Inequality In Transition Delays, Andros Kourtellos, Ioanna Stylianou, Chih Ming Tan
Economics & Finance Faculty Publications
This paper provides empirical support for one theory of transition delays: initial land inequality. Using a new historical data set for land inequality (Frankema (2009)) we employ duration analysis to investigate whether higher levels of land inequality lead to longer delays in the extension of primary schooling. Our findings suggest that land inequality is a key determinant of delays in schooling.
Mission Accomplished: A Reply To Reuveny And Keshk, Cullen F. Goenner
Mission Accomplished: A Reply To Reuveny And Keshk, Cullen F. Goenner
Economics & Finance Faculty Publications
Reuveny and Keshk (“Reconsidering trade and conflict simultaneity: The risk of emphasizing technique over substance,” this issue, 2013) argue that the econometric techniques used by Goenner (Conflict Management and Peace Science 28(5): 459–477, 2011) to test and control for endogeneity when estimating the relationship between trade and conflict lack substance. Both sets of authors propose the use of instrumental variable methods, which are known by econometricians to be the natural remedy for estimation with potentially endogenous regressors. Where Goenner (2011) and Reuveny and Keshk (2013) agree is that theory should guide variable selection and the model’s specification. Yet they …