Bayesian Model Averaging in the Studies on Economic Growth in the EU Regions – Application of the gretl BMA package

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