Cannon, Edmund S; Duck, Nigel W - In: Oxford Economic Papers 52 (2000) 2, pp. 415-19
Friedman (1992) argues that regressing cross-country income changes on their final levels can be informative about sigma-convergence (the tendency for the dispersion of income levels to narrow) whereas a similar regression on initial levels of income cannot be. In this note we show that Bliss's...