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Convergence empirics across economies with (some) capital mobility

Quah, Danny (1994) Convergence empirics across economies with (some) capital mobility. CEP discussion paper; CEPDP0257, EM/1994/275. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London.

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Abstract

This paper reinterprets a simple model of growth and fluctuations across many economies to allow explicitly characterizing the dynamically evolving corss-economy distribution of income. Such a framework provides a more natural, revealing study of the convergence hypothesis. The data show limited intra-distribution mobility in incomes across economies and, thus, little convergence. Our analysis uncovers some "convergence club"-like dynamics, and reveals the wide diversity in growth experiences across countries. Conditioning on physical capital investment, secondary school enrolment, and a dummy for the African continent falls to overturn these characterizations.

Item Type: Monograph (Discussion Paper)
Official URL: http://sticerd.lse.ac.uk
Additional Information: © 1994 the author
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: EM/1994/275
Date Deposited: 27 Apr 2007
URL: http://eprints.lse.ac.uk/2256/

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