primarily from convergence in the volatility of state output growth, rather than in its average. The realized industry shares of …. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for … that financial development has important consequences for efficiency and specialization (or diversification) of investments …

volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … financial development has important consequences for the efficiency and specialization (or diversification) of investments, in a …

volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … financial development has important consequences for the efficiency and specialization (or diversification) of investments, in a …