Econometric aspects of convergence: a survey
Smith, Ron P. (2024) Econometric aspects of convergence: a survey. Open Economies Review , ISSN 0923-7992.
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Abstract
The literature on convergence in per-capita income across countries has not converged on a common concept of convergence. It may be within a country towards its own steady state or between countries. Between country convergence may be absolute convergence to the same steady state; conditional convergence to country specific steady states, functions of observed variables; or club convergence to different steady states. It may be measured by beta convergence; sigma convergence; or the presence of a common trend. This paper surveys the econometric issues involved in estimating the rate of convergence; testing for convergence; and specifying the unobserved steady state. The survey suggests that rather than there being different ways to measure a single concept, convergence, the different measures are measuring different things.
Metadata
| Item Type: | Article |
|---|---|
| Keyword(s) / Subject(s): | Econometrics of growth, Economic convergence, beta convergence, sigma convergence. |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Applied Macroeconomics, Birkbeck Centre for |
| Depositing User: | Ron Smith |
| Date Deposited: | 05 Mar 2024 14:08 |
| Last Modified: | 06 Mar 2024 09:20 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/53193 |
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