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Macroeconomic Convergence : International Transmission of Growth and Technical Progress

Helliwell, John F. - 2009

This paper uses data for nineteen industrial countries over the period 1960-1985 to examine the evidence for international convergence of technical progress. Several models of convergence, including a model in which convergence is affected by changes in a country's openness to trade, are...

Persistent link: https://www.econbiz.de/10012767097

The New Empirics of Economic Growth

Durlauf, Steven N.; Quah, Danny - 2021

We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis....

Persistent link: https://www.econbiz.de/10013218903

Interpreting Tests of the Convergence Hypothesis

Bernard, Andrew B.; Durlauf, Steven N. - 2021

This paper provides a framework for understanding the cross- section and time series approaches which have been used to test the convergence hypothesis. First, we present two definitions of convergence which capture the implications of the neoclassical growth model for the relationship between...

Persistent link: https://www.econbiz.de/10013224219

The Effect of Financial Development on Convergence : Theory and Evidence

Aghion, Philippe; Howitt, Peter; Mayer-Foulkes, David - 2021

We introduce imperfect creditor protection in a multi-country version of Schumpeterian growth theory with technology … transfer. The theory predicts that the growth rate of any country with more than some critical level of financial development … long-run growth rate. The theory also predicts that in a country that converges to the frontier growth rate, financial …

Persistent link: https://www.econbiz.de/10013232194

Technological Diffusion, Convergence, and Growth

Barro, Robert J. - 2012

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run, the world growth rate is driven by discoveries in the technologically leading economies. Followers converge toward the leaders because copying is...

Persistent link: https://www.econbiz.de/10012756001

Understanding the "Problem of Economic Development" : the Role of Factor Mobility and International Taxation

Razin, Assaf; Yuen, Chi-Wa - 2004

The problem of economic development,' as Lucas (1988) states it, is the problem of accounting for the observed diversity in levels and rates of growth of per capita income across countries and across time. We study conditions under which capital mobility and labor mobility (two seemingly...

Persistent link: https://www.econbiz.de/10014193017

Converging to Convergence

Kremer, Michael; Willis, Jack; You, Yang - 2023

- since the 1960s, and divergence over longer periods. This stylized fact spurred several developments in growth theory …

Persistent link: https://www.econbiz.de/10014346380

R&D, Implementation and Stagnation : A Schumpeterian Theory of Convergence Clubs

Howitt, Peter; Mayer-Foulkes, David - 2021

We construct a Schumpeterian growth theory consistent with the divergence in per-capita income that has occurred … second half of the 20th Century. The theory assumes that technological change underwent a transformation late in the 19th …

Persistent link: https://www.econbiz.de/10013227488

Sources of Convergence in the Late Nineteenth Century

Taylor, Alan M. - 2021

Although the empirical growth literature has yielded many findings on postwar convergence patterns, it has had little to say about the determinants of convergence in earlier epochs. This paper investigates convergence for group of seven countries during the period 1870-1914, the last great phase...

Persistent link: https://www.econbiz.de/10013228017

Economic Growth and Convergence Across the United States

Barro, Robert J.; Sala-i-Martin, Xavier - 2021

A key economic issue is whether poor countries or regions tend to grow faster than rich ones: are there automatic forces that lead to convergence over time in levels of per capita income and product? After considering predictions of closed- and open-economy neoclassical growth theories, we...

Persistent link: https://www.econbiz.de/10013229359

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