Bayesian Model Averaging and Jointness Measures for<b>gretl</b>

Błażejowski, Marcin; Kwiatkowski, Jacek

doi:10.18637/jss.v068.i05

Cited by 12 publications

(13 citation statements)

References 29 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…This means that we did not give preference to any variables associated with economic growth theory, and the BMA approach helped us to find the most probable ones. All calculations were performed in the BMA 2.01 package by Błażejowski and Kwiatkowski [59] (The BMA 2.01 package is available at http://ricardo.ecn.wfu.edu/gretl/cgi-bin/gretldata.cgi?opt=SHOW_FUNCS) for the gretl program (see Cottrell and Lucchetti [68]). The most probable variables were defined as those with the highest Posterior Inclusion Probabilities (PIPs).…”

Section: Resultsmentioning

confidence: 99%

See 1 more Smart Citation

Sources of Economic Growth: A Global Perspective

2019

Self Cite

View full text Add to dashboard Cite

The main goal of this paper is to determine the factors responsible for economic growth at the global level. The indication of the sources of economic growth may be an important element of the sustainable economic policy for development. The novelty of this research lies in employing an analysis based on data, which consist of an average growth rate of the Gross Domestic Product (GDP) for 168 countries for the years 2002–2013. The Bayesian model averaging approach is used to identify potential factors responsible for differences in countries’ GDPs. Additionally, a jointness analysis is performed to assess the potential independence, substitutability, and complementarity of the factors of economic growth. The robustness of the results is confirmed by Bayesian averaging of classical estimates. We identify the most probable factors of economic growth, and we find that the most important determinants are variables associated with the so-called “Asian development model”.

show abstract

Section: Resultsmentioning

confidence: 99%

“…We use the BMA code by Błażejowski and Kwiatkowski [59], which also allows the use of a jointness measure to identify relations between variables.…”

Section: Introductionmentioning

confidence: 99%

Sources of Economic Growth: A Global Perspective

2019

Self Cite

View full text Add to dashboard Cite

show abstract

“…All numerical computations were carried out in the gretl's BMA package (see Błażejowski and Kwiatkowski, 2013). Authors specify the following entries in the GUI BMA window: model prior = 'binomial', prior average model size = '12.5' (we set the models priors to the uniform distribution), number of the top ranked models = '15', g-prior type = 'Benchmark prior', total number of replications = '1000000', percentage of burn-in draws = '10'.…”

Section: Resultsmentioning

confidence: 99%

“…Using the BMA (Bayesian Model Averaging) method a group of explanatory variables was proposed to determine potential factors responsible for differences in regional averages of GDP growth rate under a dynamic approach. The Bayesian approach was previously used in author's research Gazda and Puziak (2013) as well Błażejowski and Kwiatkowski (2013) and also in the economic studies by to identify the relationship between migration and economic growth and by to select the determinants of permanent migration in Romania. The Bayesian methods are good alternatives to traditional methods used, for example, by Albu (2013) to select foreign trade and FDI as determinants of economic growth or by Albu (2006) and also Albu and Roudoi (2003) to study the relationship between economic growth, investment and interest rate.…”

Section: Introductionmentioning

confidence: 99%

Bayesian Model Averaging in the Studies on Economic Growth in the EU Regions – Application of the gretl BMA package

Błażejowski¹,

Gazda²,

Kwiatkowski³

2016

Economics &Amp; Sociology

Self Cite

View full text Add to dashboard Cite

Economic growth is again one of the most important economic issues in literature since the the 1980s. This paper falls into the mainstream of regional studies on economic growth and it tries to answer the recurring question: what are the determinants of economic growth at regional level. The objective of this article is to diagnose the determinants of economic growth among European regions on the basis of Bayesian methods applied to gretl software.

show abstract

“…On the theoretical level, the above presented procedure has been described in an article by Błażejowski et al [35]; a detailed description of the tools is contained in a publication by Błażejowski and Kwiatkowski [42].…”

Section: -2018)mentioning

confidence: 99%

Traditional Food Products—Between Place Marketing, Economic Importance and Sustainable Development

Florek

Gazda

2021

Sustainability

View full text Add to dashboard Cite

The aim of this paper is to link the economic and marketing perspectives by means of the quantitative method to answer the question of whether traditional food products may play an important role in sustainable region development ensuring economic viability, and how (if at all) marketing should support this process. Due to the lack of unambiguous theoretical findings—the theory has not established a model of the impact of regional products on the food sector in the region and, further on, the economy—an atheoretical approach should be applied, which without priori findings (without favouring individual variable) will lead to an assessment of the above-described impact. Using the Bayesian approach, the authors have measured the above relations with respect to the case of Poland. The basis of the study is provided by a database developed by the authors for 16 Polish NUTS2 regions where lists of official traditional food products were compiled. Using the chosen method, a group of explanatory variables has been proposed (among them, a number of regional products) as factors potentially responsible for the dependent variable (value of agriculture production in the NUTS2 regions). The results indicate that the number of traditional food products does not determine the value of agricultural production on the level of the NUTS2 regions in Poland. This value is determined by commodity production rather than the factors of the so-called sustainable agriculture.

show abstract

Bayesian Model Averaging and Jointness Measures forgretl

Cited by 12 publications

References 29 publications

Sources of Economic Growth: A Global Perspective

Sources of Economic Growth: A Global Perspective

Bayesian Model Averaging in the Studies on Economic Growth in the EU Regions – Application of the gretl BMA package

Traditional Food Products—Between Place Marketing, Economic Importance and Sustainable Development

Contact Info

Product

Resources

About