Quah, Danny - London School of Economics (LSE) - 1995
of (cross-country) in- come distributions. This allows convenient study of the convergence hypothesis, and reveals, where … appropriate, polarization and clumping within subgroups. The data show little cross-country convergence; in- stead, the important … features are persistence, immobility, and polariza- tion, exemplied by \convergence club" or \twin peaks" dynamics …