Estimating the Effects of Credit Constraints on Productivity of Peruvian Agriculture
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World Bank, Washington, DC
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This paper proposes an estimator for the
endogenous switching regression models with fixed effects.
The estimator allows for endogenous selection and for
conditional heteroscedasticity in the outcome equation.
Applying the estimator to a dataset on the productivity in
agriculture substantially changes the conclusions compared
to earlier analysis of the same dataset. This paper proposes
an estimator for the endogenous switching re-gression models
with fixed effects. The estimator allows for endogenous
selection and for conditional heteroscedasticity in the
outcome equation. Applying the estimator to a dataset on the
productivity in agriculture substantially changes the
conclusions compared to earlier analysis of the same dataset.
Palabras clave
AGRICULTURE, BINARY CHOICE, COVARIANCE MATRIX, CULTURAL CHANGE, DEGREES OF FREEDOM, DEVELOPMENT POLICY, DISCUSSIONS, DISEQUILIBRIUM, ECONOMETRIC THEORY, ECONOMETRICS, ECONOMIC DEVELOPMENT, ECONOMICS, EMAIL ADDRESS, ENDOGENOUS REGRESSORS, ERROR, ERROR TERM, ERROR TERMS, EXOGENOUS REGRESSORS, FIXED EFFECTS, FUTURE RESEARCH, HYPOTHESIS TESTING, IDEAS, INCOME, JOURNAL OF ECONOMETRICS, LABOR SUPPLY, LABOUR, LIMITED DEPENDENT VARIABLES, OPEN ACCESS, PANEL DATA, PANEL DATA MODELS, PERIOD T, PRIVATE SECTORS, PRODUCTIVITY, PRODUCTIVITY INCREASES, QUASI MAXIMUM LIKELIHOOD, QUASI MAXIMUM LIKELIHOOD ESTIMATOR, RANDOM EFFECTS, REGRESSION MODEL, RESULT, RESULTS, SELECTION MODEL, STANDARD ERRORS, STEP ESTIMATOR, TIME PERIOD, TIME SERIES, TRANSACTION, VARIANCE-COVARIANCE MATRIX, WAGE RATES