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2SLS 1 Arellano-Bond 1 Blundell-Bond 1 GMM 1 Generalized Method of Moments 1 IV 1 economic growth 1 exclusion restriction 1 foreign aid 1 geography 1 growth determinants 1 identification problem 1 institutions 1 instrumental variables 1 legal origins 1 overidentification 1 regression 1 too many instruments 1 two-stage least squares 1 underidentification 1 valid instruments 1 weak instruments 1
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Bazzi, Samuel 1 Clemens, Michael 1
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Blunt Instruments: On Establishing the Causes of Economic Growth
Clemens, Michael; Bazzi, Samuel - 2009
Concern has intensified in recent years that many instrumental variables used in widely-cited growth regressions may be invalid, weak, or both. Attempts to remedy this general problem remain inadequate. We demonstrate that a range of published growth regressions may contain spurious results...
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