Serniparametric Bayesian inference of the Kuznets hypothesis

• 成果类型: Article
• 署名作者: Huang, Ho-Chuan (River); Lin, Shu-Chin
• 署名单位: Tamkang University; Tamkang University
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2006.03.008
• 发表日期: 2007
• 页码: 491-505
• 关键词: kuznets hypothesis; inverted-U; inverted-root; Asymmetric; Bayesian

摘要

In contrast to the parametric (quadratic) specification used for examining the Kuznets hypothesis, this study relies on the semiparametric Bayesian inference of the partially linear regression to re-assess the validity of an inverted-U shape of the Kuznets curve. The simple framework permits us to perform estimation and model comparison in a unified way. Empirical results using cross-sectional data on 75 countries indicate that there exists an (approximately) inverted-V, hence, asymmetric relation between inequality and per capita GDP. Moreover, judged by the Bayes factor, overwhelming evidence is found in favor of our semiparametric specification. Finally, robustness check using alternative measure of inequality and pool data confirms our findings. (c) 2006 Elsevier B.V. All rights reserved.