New evidence on the convergence of international income from a group of 29 countries |
| |
Authors: | John W Dawson Amit Sen |
| |
Institution: | (1) Department of Economics, Appalachian State University, P.O. Box 32051, Boone, NC 28608-2051, USA;(2) Department of Economics, Xavier University, 3800 Victory Parkway, Cincinnati, OH 45207-3212, USA |
| |
Abstract: | This paper updates and extends the time-series evidence on the convergence of international incomes using a set of 29 countries
over the period 1900–2001. Time-series tests for stochastic convergence are supplemented with tests which provide evidence
on the notion of “β-convergence” predicted by the Solow model. The evidence indicates that the relative income series of 21
countries are consistent with stochastic convergence, and that β-convergence has occurred in at least 16 countries at some
point during the twentieth century. Further examination of the properties of the β-convergence test provides anecdotal evidence
of conditional convergence in three additional countries for which the convergence hypothesis was initially rejected. Consideration
of convergence clubs strengthens the evidence in favor of convergence. Analysis of the cross-country dispersion of incomes
over time also suggests that convergence has occurred over the 1900–2001 period, particularly within certain clubs, with structural
breaks associated with World War II in many countries causing a break in the convergence process.
|
| |
Keywords: | JEL Classification" target="_blank">JEL Classification C32 O40 |
本文献已被 SpringerLink 等数据库收录! |
|