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Convergence empirics across economies with (some) capital mobility

Quah, Danny (1995) Convergence empirics across economies with (some) capital mobility. CEP discussion paper; CEPDP0257 (257). London School of Economics and Political Science. Centre for Economic Performance, 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
Divisions: Centre for Economic Performance
Economics
Subjects: H Social Sciences > HB Economic Theory
JEL classification: C - Mathematical and Quantitative Methods > C3 - Econometric Methods: Multiple; Simultaneous Equation Models; Multiple Variables; Endogenous Regressors > C32 - Time-Series Models
C - Mathematical and Quantitative Methods > C3 - Econometric Methods: Multiple; Simultaneous Equation Models; Multiple Variables; Endogenous Regressors > C33 - Models with Panel Data
E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
Date Deposited: 27 Apr 2007
Last Modified: 08 Nov 2023 10:57
URI: http://eprints.lse.ac.uk/id/eprint/2256

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