Twin peaks : growth and convergence in models of distribution dynamics

Quah, Danny (1996) Twin peaks : growth and convergence in models of distribution dynamics. CEP discussion paper; CEPDP0280 (280). Centre for Economic Performance, London School of Economics and Political Science, 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
Sets:	Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) Departments > Economics
Date Deposited:	27 Apr 2007
Last Modified:	20 Jan 2021 01:43
URI:	http://eprints.lse.ac.uk/id/eprint/2278

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