Midwest Macro Conference

Abstract This paper takes a fresh look into Africa's growth experience by using the Bayesian Model Averaging (BMA) methodology. BMA enables us to consider a large number of potential explanatory variables and sort out which of these variable can e¤ectively explain Africa's growth experience. Posterior coe¢ cient estimates reveal that key engines of growth in Africa are substantially di¤erent from those in the rest of the world. More precisely, it is shown that mining, primary exports and initial primary education exerted di¤erential e¤ect on African growth. These results are examined in relation to the existing literature. JEL Classi…cation: O40, O47. Keywords: Africa, growth determinants, model uncertainty, Bayesian Model Averaging (BMA). We thank the editor Steven Durlauf and an anonymous referee for valuable comments and suggestions. We also thank seminar participants a

75 Years of Development Research Conference

Abstract This paper takes a fresh look into Africa's dismal growth performance by using the Bayesian Model Averaging (BMA) methodology. We estimate the posterior probability of a large number of potential explanatory variables and cross-country regression models. In large, we Þnd that determinants of growth in Africa are strikingly different from the rest of the world. In addition, growth regression models that best explain global growth do poorly in explaining African growth, and conversely

Employment in Europe

Lecture delivered at the European University Institute in Florence on 19 October 201