@techreport{NBERw7750,
 title = "Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach",
 author = "Gernot Doppelhofer and Ronald I. Miller and Xavier Sala-i-Martin",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "7750",
 year = "2000",
 month = "June",
 URL = "http://www.nber.org/papers/w7750",
 abstract = {This paper examines the robustness of explanatory variables in cross-country economic growth regressions.  It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of  OLS estimates for every possible combination of included variables.  The weights applied to individual regressions are justified on Bayesian grounds in a way similar to the well-known Schwarz criterion.  Of 32 explanatory variables we find 11 to be robustly partially correlated with long-term growth and another five variables to be marginally related.  Of all the variables considered, the strongest evidence is for the initial level of real GDP per capita.},
}