Marcin Błażejowski,

Toruń School od Banking,

Toruń, Poland,

marcin.blazejowski@wsb.torun.pl

BAYESIAN MODEL AVERAGING IN THE STUDIES ON ECONOMIC GROWTH IN THE EU REGIONS – APPLICATION OF THE GRETL BMA PACKAGE

Jakub Gazda,

Poznań University of Economics and Business, Poznań, Poland,

 j.gazda@ue.poznan.pl

Jacek Kwiatkowski,

Nicolaus Copernicus University in

Toruń, Toruń, Poland,

 jkwiat@umk.pl

 Abstract.Economic growth is again one of the most important economic issues in literature since 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.

Received: March, 2016

1st Revision: October, 2016

Accepted: November, 2016

DOI: 10.14254/2071-789X.2016/9-4/10

JEL Classification: C11, O47, R11

Keywords: economic growth, Bayesian methods, gretl software.