Template-type: ReDif-Paper 1.0
Author-Name: Bresson G. 
Author-Name: Etienne J. 
Author-Name: Mohnen P. 
Author-workplace-name: UNU-MERIT
Title: How important is innovation? A Bayesian factor-augmented productivity model on panel data
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.
Keywords: Single Equation Models; Single Variables: Models with Panel Data; Longitudinal Data; Spatial Time Series; Multiple or Simultaneous Equation Models: Classification Methods; Cluster Analysis; Factor Models; Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence; 
Classification-JEL: C23; C38; O47; .
Series:  Working Papers
Creation-Date: 2014
Number: 052
File-URL: http://pub.maastrichtuniversity.nl/063b9055-db0e-4ecb-8cd8-997dab6f9659
File-Format: application/pdf
File-Size: 2175859
Handle: RePEc:unm:unumer:2014052