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Convergence empirics across economies with (some) capital mobility

Convergence empirics across economies with (some) capital mobility This paper uses a model of growth and imperfect capital mobility across multiple economies to characterize the dynamics of (cross-country) income distributions. This allows convenient study of the convergence hypothesis, and reveals, where appropriate, polarization and clumping within subgroups. The data show little cross-country convergence; instead, the important features are persistence, immobility, and polarization, exemplified by “convergence club” or “twin peaks” dynamics. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Growth Springer Journals

Convergence empirics across economies with (some) capital mobility

Journal of Economic Growth , Volume 1 (1) – Jun 28, 2004

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References (59)

Publisher
Springer Journals
Copyright
Copyright
Subject
Economics; Economic Growth; Macroeconomics/Monetary Economics//Financial Economics; International Economics
ISSN
1381-4338
eISSN
1573-7020
DOI
10.1007/BF00163344
Publisher site
See Article on Publisher Site

Abstract

This paper uses a model of growth and imperfect capital mobility across multiple economies to characterize the dynamics of (cross-country) income distributions. This allows convenient study of the convergence hypothesis, and reveals, where appropriate, polarization and clumping within subgroups. The data show little cross-country convergence; instead, the important features are persistence, immobility, and polarization, exemplified by “convergence club” or “twin peaks” dynamics.

Journal

Journal of Economic GrowthSpringer Journals

Published: Jun 28, 2004

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