output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …

productivity shortfalls relative to precrisis trends. Policy choices preceding the crisis and in its immediate aftermath influenced …

that China's productivity convergence remains at an early stage, with the industrial sector more advanced than services … transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China's convergence progress in …-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural …

Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger … productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural … productivity suggest that for Bulgaria closing the gap with EU standards in the areas of institutional and infrastructure quality …

In the last few decades there has been little convergence of income levels in Latin America with those in the United … States, in sharp contrast with both emerging Asia and emerging Europe. This paper argues that lack of convergence was not the …, there is strong conditional cross-country convergence. Poor countries with high levels of human capital, governance or …