Quah, Danny (1996) Twin peaks : growth and convergence in models of distribution dynamics. CEP discussion paper; CEPDP0280 (280). London School of Economics and Political Science. Centre for Economic Performance, London, UK.
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Abstract
Convergence concerns poor economies catching up with rich ones. At is- sue is what happens to the cross sectional distribution of economies, not whether a single economy tends towards its own steady state. It is the latter, however, that has preoccupied the traditional approach to con- vergence analysis. This paper describes an alternative body of research that overcomes this shortcoming in the traditional approach. The new findings on persistence and stratification; on the formation of conver- gence clubs; and on the distribution polarizing into twin peaks of rich and poor|suggest the relevance of a class of theoretical ideas, dierent from those surrounding the production-function accounting traditionally favored.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://cep.lse.ac.uk |
| Additional Information: | © 1996 the authors |
| Divisions: | Centre for Economic Performance Economics |
| Subjects: | H Social Sciences > HB Economic Theory |
| JEL classification: | C - Mathematical and Quantitative Methods > C2 - Econometric Methods: Single Equation Models; Single Variables > C23 - Models with Panel Data O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O57 - Comparative Studies of Countries O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models |
| Date Deposited: | 27 Apr 2007 |
| Last Modified: | 11 Dec 2024 18:22 |
| URI: | http://eprints.lse.ac.uk/id/eprint/2278 |
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