Abstract

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

    Similar works