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Economic convergence in a globalized world: The role of ...
2. Literaturereview and theoretical framework. As [] put it, the essence of globalization is the participation of many individual countries in a world business cycle.Also, and as has been previously exposed, a popular view is that increasing globalization implies more synchronization of business cycles across countries, and should contribute to the formation of a global business cycle.
Introduction: Consensus on Convergence | Open Economies Review
The lack of evidence for growth convergence between economies has resulted in two responses in the literature. One response has been to challenge the basis of the neo-classical theory that predicts convergence resulting in models of endogenous growth. Another has been to condition convergence to a steady state that itself is a function of institutions, human capital, and historical factors ...
Econometric Aspects of Convergence: A Survey | Open Economies ...
The literature on convergence in per-capita income across countries has not converged on a common concept of convergence. It may be within a country towards its own steady state or between countries. Between country convergence may be absolute convergence to the same steady state; conditional convergence to country specific steady states, functions of observed variables; or club convergence to ...
Converging to Convergence - National Bureau of Economic Research
2.2 Results: converging to convergence. Figure 1 shows the scatter plot and regression of equation 1 for each decade since 1960. Con-vergence corresponds to a negative slope, and the shift to convergence since 2000 can clearly be seen in the raw data.
Testing and measurement of economic convergence: A review of ...
A B S T R A C T. Objective: This article reviews the empirical findings about the convergence hypothesis obtained in the period 1992-2017. In the first place it investigates the specifications of economic indicators used in testing the convergence effect. Further, the paper provides a breakdown of the convergence research development after the ...
Economic convergence among the world’s top-income economies
The paper examined the economicconvergence between the world’s top-income economies as they are classified by the World Bank over the period 1980–2016 rather than the traditionally distinctive developed countries, as currently this is the group of the world leading economies though its convergence is scarcely analyzed.
Testing and measurement of economic convergence: A review of ...
Breakdown of the authors with results and methods used. 2018, Vol. 4, No. 2 10.15678/PM.2018.0402.01. Testing and measurement of economic convergence: A review of some recent developments. Dawid ...
The Convergence Hypothesis: History, Theory, and Evidence
The sources of convergence. Abramovitz and David (1996: 21) provide a succinct definition of the conver-gence hypothesis, “Under certain conditions, being behind gives a productivity laggard the ability to grow faster than the early leader. This is the main con-tention of the ‘convergence hypothesis’.’’.
What Remains of Cross-Country Convergence
models of convergence, in section4 we pro - vide a brief summary of the tests employed in the empirical growth literature to estimate convergence. In section5 we briefly touch on econometric issues facing estimation of convergence, before turning to empirical evidence in section6. Given how vast the literature is on the subject, we chose to focus
What Remains of Cross-Country Convergence? - American ...
JEL Classification. What Remains of Cross-Country Convergence? by Paul Johnson and Chris Papageorgiou. Published in volume 58, issue 1, pages 129-75 of Journal of EconomicLiterature, March 2020, Abstract: We examine the record of cross-country growth over the past fifty years and ask if developing countries have made...
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2. Literature review and theoretical framework. As [] put it, the essence of globalization is the participation of many individual countries in a world business cycle.Also, and as has been previously exposed, a popular view is that increasing globalization implies more synchronization of business cycles across countries, and should contribute to the formation of a global business cycle.
The lack of evidence for growth convergence between economies has resulted in two responses in the literature. One response has been to challenge the basis of the neo-classical theory that predicts convergence resulting in models of endogenous growth. Another has been to condition convergence to a steady state that itself is a function of institutions, human capital, and historical factors ...
The literature on convergence in per-capita income across countries has not converged on a common concept of convergence. It may be within a country towards its own steady state or between countries. Between country convergence may be absolute convergence to the same steady state; conditional convergence to country specific steady states, functions of observed variables; or club convergence to ...
2.2 Results: converging to convergence. Figure 1 shows the scatter plot and regression of equation 1 for each decade since 1960. Con-vergence corresponds to a negative slope, and the shift to convergence since 2000 can clearly be seen in the raw data.
A B S T R A C T. Objective: This article reviews the empirical findings about the convergence hypothesis obtained in the period 1992-2017. In the first place it investigates the specifications of economic indicators used in testing the convergence effect. Further, the paper provides a breakdown of the convergence research development after the ...
The paper examined the economic convergence between the world’s top-income economies as they are classified by the World Bank over the period 1980–2016 rather than the traditionally distinctive developed countries, as currently this is the group of the world leading economies though its convergence is scarcely analyzed.
Breakdown of the authors with results and methods used. 2018, Vol. 4, No. 2 10.15678/PM.2018.0402.01. Testing and measurement of economic convergence: A review of some recent developments. Dawid ...
The sources of convergence. Abramovitz and David (1996: 21) provide a succinct definition of the conver-gence hypothesis, “Under certain conditions, being behind gives a productivity laggard the ability to grow faster than the early leader. This is the main con-tention of the ‘convergence hypothesis’.’’.
models of convergence, in section4 we pro - vide a brief summary of the tests employed in the empirical growth literature to estimate convergence. In section5 we briefly touch on econometric issues facing estimation of convergence, before turning to empirical evidence in section6. Given how vast the literature is on the subject, we chose to focus
JEL Classification. What Remains of Cross-Country Convergence? by Paul Johnson and Chris Papageorgiou. Published in volume 58, issue 1, pages 129-75 of Journal of Economic Literature, March 2020, Abstract: We examine the record of cross-country growth over the past fifty years and ask if developing countries have made...