Based on required growth rate and actual growth rate, this paper proposes a method to construct measures to indicate the probability of a country escaping the middle income trap (MIT). A second contribution of this paper is to model this probability using 1960–2015 cross-country data, focusing...

Income convergence refers to the idea that poor countries grow more quickly than rich ones and catch up in terms of per capita income; as a result, the per capita income of integrated nations eventually converges. Beta convergence suggests that less developed nations grow more quickly than more...

This paper constructs annual GDP estimates for Ireland (1924-47) to join the first complete official aggregates. The new series is deployed to revisit Ireland's economic performance in the post-independence decades. Ireland's economy grew at 1.5 per cent per annum and average living standards...

Empirical tests in the 1990s found little evidence of poor countries catching up with rich - unconditional convergence - since the 1960s, and divergence over longer periods. This stylized fact spurred several developments in growth theory, including AK models, poverty trap models, and the...

The paper analyses the potential contribution of services as a driving force of economic growth in developing countries within a Kaldorian framework. In doing so, we revisit Kaldor Growth Laws and econometrically test them for a number of economic activities (including four service branches)...

Emerging economies have an increasing influence on the global economy and there is general optimism regarding their prospects. However, given a sustained income gap between emerging and advanced economies, there is concern that many emerging economies will never match the advanced economies in...

In the field of economics and regional research, income convergence between countries and regions has been analysed since the 1980s. At the beginning of the 21st century, a number of articles addressing income convergence of European Union (EU) countries were published, which was among many...

In this paper I consider 28 developed and developing countries, in the period 1980- 1995, and I employ the Within Group and the Generalized Method of Moments estimators to test, respectively, for Total Factor Productivity determinants and labor productivity convergence driving forces...

We consider a multi-sector general equilibrium model with IO linkages, sector-specific productivities and tax rates. Using tools from network theory, we investigate how the IO structure interacts with productivities and taxes in the determination of aggregate income. We show that aggregate...

This study investigates the economic growth and catch-up of the Republic of Korea over the past half-century. The gap of output per worker between the Republic of Korea and United States has decreased rapidly, as the Republic of Korea's lower per capita income, relative to its potential level,...