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Spatial Growth Regressions: Model Specification, Estimation and Interpretation

LeSage, James P. and Fischer, Manfred M. (2007) Spatial Growth Regressions: Model Specification, Estimation and Interpretation. WU Vienna University of Economics and Business, Vienna.

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Abstract

This paper uses Bayesian model comparison methods to simultaneously specify both the spatial weight structure and explanatory variables for a spatial growth regression involving 255 NUTS 2 regions across 25 European countries. In addition, a correct interpretation of the spatial regression parameter estimates that takes into account the simultaneous feed- back nature of the spatial autoregressive model is provided. Our findings indicate that incorporating model uncertainty in conjunction with appropriate parameter interpretation decreased the importance of explanatory variables traditionally thought to exert an important influence on regional income growth rates. (authors' abstract)

Item Type: Paper
Keywords: model uncertainty / Bayesian model averaging / Markov chain Monte Carlo model composition / spatial weight structures
Classification Codes: JEL C11, C21, O47, O52, R11
Divisions: Departments > Sozioökonomie > Wirtschaftsgeographie und Geoinformatik > Fischer
Depositing User: ePub Administrator
Date Deposited: 09 Jul 2014 15:23
Last Modified: 18 Dec 2015 14:42
URI: http://epub.wu.ac.at/id/eprint/3968

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