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Benhabib and Spiegel (1994) argue that regressing cross-country income changes on a catch-up term has the ability to distinguish between the Nelson-Phelps and Neo-classical approach. This paper circumstantiates that these findings constitute a statistical artefact according to Galton's Fallacy.
Persistent link: https://www.econbiz.de/10005292811
The convergence hypothesis has generated a huge empirical literature: this paper critically reviews some of the earlier … interpreting convergence empirics. The main ndings are: (1) The much-heralded uniform 2% rate of convergence could arise for … reasons unrelated to the dynamics of economic growth. (2) Usual empirical analyses|cross-section (conditional) convergence …
Persistent link: https://www.econbiz.de/10010746695
Cluster analysis methods allow for a comparative study of countries through basic macroeconomic indicator fluctuations. Statistical distances between 15 EU countries are first calculated for various moving time windows. The decrease in time of the mean statistical distance is observed through...
Persistent link: https://www.econbiz.de/10009415585
The aim of this paper is to provide an overview of empirical cross-country growth literature. The paper begins with describing the basic framework used in recent empirical cross-country growth research. Even though this literature was mainly inspired by endogenous growth theories, the...
Persistent link: https://www.econbiz.de/10009294882
The aim of this paper is to provide an overview of empirical cross-country growth literature. The paper begins with describing the basic framework used in recent empirical cross-country growth research. Even though this literature was mainly inspired by endogenous growth theories, the...
Persistent link: https://www.econbiz.de/10010306300
In late 2003 and early 2004 the Economic Society of Australia surveyed the Heads of Economics Departments in Australia to determine their views on three main issues: student standards, major factors affecting these standards, and policy implications. This paper describes the main results of the...
Persistent link: https://www.econbiz.de/10005423279
We reassess convergence of income across countries and its determinants. The ergodic distribution of output per worker …
Persistent link: https://www.econbiz.de/10010572262
study of the convergence hypothesis. The data show limited intra-distribution mobility in incomes across economies and thus …, little convergence. The analysis uncovers some `convergence club'-like dynamics, and reveals the wide diversity in growth …
Persistent link: https://www.econbiz.de/10005661869
rate, and the adult literacy rate across states in Mexico between 1994 and 2000. It analyzes the hypothesis of convergence …
Persistent link: https://www.econbiz.de/10005515175
The convergence hypothesis has generated a huge empirical literature: this paper critically reviews some of the earlier … interpreting convergence empirics. The main findings are: (1) The much-heralded uniform 2% rate of convergence could arise for … reasons unrelated to the dynamics of economic growth. (2) Usual empirical analyses - cross-section (conditional) convergence …
Persistent link: https://www.econbiz.de/10005792413