Abstract
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Whether models are nested or non-nested it is important to be able to compare them and evaluate their comparative results. In this study six growth models have been used for analyzing the main determinants of economic growth in case of cross countries, therefore by using these six models we have tested them for non-nested and nested encompassing through Cox test and F-test respectively. Data from 1980 to 2020 were used to analyze the cross country growth factors so therefore, the current study looked at about forty four countries with modelling these different comparative studies based on growth modelling. So, we can make these six individual models and we can estimate the General Unrestricted Model with the use of econometric technique of Non-Nested Encompassing. By evaluating the data using the Non-Nested Encompassing econometric technique, different sets of economic variables has been used to evaluate which sets of the economic variables are important to boost up the growth level of the country. And found that in case of nested model or full model it is concluded that model with lag value of GDP, trade openness, population, real export, and gross fix capital formation are the main and potential determinants to boost up the Economic Growth in most of the countries. |
Keywords
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Cross Country, Economic Growth, Encompassing, Nested, Non-nested |
Article
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Article # 58
Volume # 2
Issue # 4
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DOI info
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DOI Number: 10.47205/jdss.2021(2-IV)58
DOI Link: http://doi.org/10.47205/jdss.2021(2-IV)58
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