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Institutions and growth: evidence from estimation methods robust to weak instruments
journal contribution
posted on 2023-05-17, 16:32 authored by Dmitriev, AThis article focuses on the empirical approach proposed by Hall and Jones (1999) to estimate the effect of what they call ‘social infrastructure’ on productivity across countries. We consider the issue of weak identification in their linear instrumental variables model. The evidence obtained from partially robust estimators, such as the k-class and jackknife estimators, is interpreted on the basis of Monte Carlo studies. Our findings suggest that using certain k-class estimators allows exclusive reliance on the linguistic variables to instrument for institutional quality despite their low correlation with the endogenous regressor in question.
History
Publication title
Applied EconomicsVolume
45Issue
13Pagination
1625-1635ISSN
0003-6846Department/School
TSBEPublisher
Routledge Taylor & Francis LtdPlace of publication
4 Park Square, Milton Park, Abingdon, England, Oxfordshire, Ox14 4RnRights statement
Copyright 2013 Taylor & FrancisRepository Status
- Restricted