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.Full text not available from this repository.
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)|
|Additional Information:||© 1994 the author|
|Uncontrolled Keywords:||Growth and fluctuations; cross-country distribution of income; convergence hypothesis; intra-distribution mobility; capital investment|
|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
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