generate indeterminacy but it is also shown that this can be done without assuming a very elastic supply of labor. …

Abstract: Convergence may be considered a central issue of the current economic literature, and not only, concentrating … characterize especially the emerging economies. Testing convergence within economies may serve as a useful instrument for the … validation of the economic growth models. While convergence was considered a defining element of the neoclassical growth models …

reforms and growth in a developing country. Convergence occurs until the developing country reaches a bottleneck, then … convergence stops unless the institution is improved. After the reform, convergence resumes until a new bottleneck is encountered … over time; there are finite reforms and convergence is unceasing until the last constraint binds, so a permanent GDP gap …

filter framework to test for convergence in investment rates. We find some evidence of convergence in Central European …, however, we were unable to isolate convergence in investment shares. Copyright Kluwer Academic Publishers 2001 …