This paper examines empirically whether and how regional integration leads to convergence and growth amongst developing countries. Using standard growth models for nearly 100 developing countries over 1970-2004 we cannot establish robust growth effects of regional integration as such at the...

This paper uses the concepts of σ-convergence and β-convergence to evaluate empirically the hypothesis of income convergence in the Asia-Pacific region, and its subsets of East Asia and ASEAN during the period 1960-1999. Because of the East Asian financial crisis in the late 1990s, the...

In this paper, advanced economies are aggregated into ‘North’ whereas ‘South’ comprises the less advanced ones. Trade induced technology diffusion is source of enriched technological contents. We also consider two scenarios: (i—“hub and spokes [HAS]”) the North establishes separate...

This paper takes as its point of departure the claim in the literature that strong Asian growth performance is accounted for largely by the accumulation of factor inputs (financial savings and human capital accumulation). This stands in sharp contrast to Polanyi’s (1944) interpretation of...

Recent research has emphasised the role of trade in productivity growth. The purpose of the present paper is to investigate how regional integration, and the different treatment of member and non-member imports, affects the relation between imports and productivity growth. We focus on the...

This study identifies income convergence in Europe over 1960 to 2012. The Great Recession since 2008 reversed the GDP per capita convergence in the EU-15, but the extransition countries have mostly continued to catch up. We found this by analysing the Sigma convergence of GDP per capita in the...

This article analyses and explains the real convergence process in MENA countries over the past 50 years. It provides a threefold contribution. Firstly, given the recent increasing attention paid to the Euro-Mediterranean area, it focuses on the convergence of MENA countries towards the EU per...

This paper examines two issues that are central to the macroeconomic implications of large external shock for an emerging market economy. First, the paper examines how capital reversal and credit squeeze can reduce aggregate demand that lead to cascading contraction in employment. Secondly, the...

This paper studies co-movements in real output growth across countries of Latin America in the sample period 1970-2007. To detect the change over time, correlations in real growth are analyzed over two sub-samples: 1970-1986 and 1987-2007. Correlation coefficients detect co-movements in real...

We study the international transmission of aggregate TFP shocks by introducing demand-side shocks to government spending into an otherwise standard DSGE two-country, two-good model. In the model the substitutability in consumption between private and public goods works to limit international...