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Economic Growth and Conditional Convergence: Its Speed For Selected Regions For 1961-2001

Author

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  • Somesh K. Mathur

    (Lecturer-Department of Economics, Jamia Millia Islamia (Central University), New Delhi-25)

Abstract

The study gives the theoretical justification for the per capita growth equations using Solovian model (1956) and its factor accumulation assumptions. The different forms of the per capita growth equation is used to test for 'conditional convergence' hypotheses and also work out the speed of conditional convergence for EU, East Asian and South Asian regions together from 1961-2001. Conditional convergence is prevalent among almost all pairs of regions in our sample except East Asian and South Asian nations together. Speed of conditional convergence ranges from 0.2 % in an year to 22%. Countries that are poor relative to their own steady state do tend to grow more rapidly. It does not mean that all countries in the world are converging to the same steady state, only that they are converging to their own steady states (conditional convergence)

Suggested Citation

  • Somesh K. Mathur, 2005. "Economic Growth and Conditional Convergence: Its Speed For Selected Regions For 1961-2001," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 40(2), pages 185-208, December.
    • Handle: RePEc:dse:indecr:v:40:y:2005:i:2:p:185-208
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    Citations

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    Cited by:

    1. Prakarti Sharma & Nidhi Sharma, 2022. "An Examination of Per Capita Income Convergence in Emerging Market Economies," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 14(3), pages 319-347, September.
    2. Enkh-Amgalan BYAMBAJAV & Terukazu SURUGA, 2010. "Effects of Regional Income and Educational Differentials on Migration and Regional Convergence," GSICS Working Paper Series 23, Graduate School of International Cooperation Studies, Kobe University.
    3. Mathur Somesh, 2007. "Indian IT and ICT Industry: A Performance Analysis Using Data Envelopment Analysis and Malmquist Index," Global Economy Journal, De Gruyter, vol. 7(2), pages 1-42, June.
    4. Dukhabandhu Sahoo & Diptimayee Mishra & Auro Kumar Sahoo & Phendulwa Zikhona Makunga & Jayanti Behera, 2020. "Regional and subregional analyses of macroeconomic policy strategies for growth and equality in Southern Africa," WIDER Working Paper Series wp-2020-176, World Institute for Development Economic Research (UNU-WIDER).
    5. Dharmabrata Mohapatra & Dukhabandhu Sahoo & Mrinali Mahanti, 2019. "Crecimiento y desigualdad a nivel subregional y subsectorial: caso de sector de servicios de Odisha, India," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 2, pages 63-94.
    6. Riffat, Nisma & Munir, Kashif, 2015. "Exploring the Channels and Impact of Debt on Economic Growth in South Asia," MPRA Paper 66830, University Library of Munich, Germany.
    7. Jakub Piecuch & Joanna Szarek, 2022. "Dynamic panel model in bioeconomy modeling," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 68(1), pages 20-27.
    8. Ang, Joshua Ping & Dong, Fang, 2023. "Middle-income trap and corruption: Evidence from a dynamic panel data analysis," Research in Economics, Elsevier, vol. 77(3), pages 349-361.
    9. Enkh-Amgalan BYAMBAJAV & Terukazu SURUGA, 2009. "Regional Convergence and Migration: The Case of Mongolia 1989-2004," GSICS Working Paper Series 21, Graduate School of International Cooperation Studies, Kobe University.

    More about this item

    Keywords

    Growth equation; conditional convergence; speed of conditional convergence;
    All these keywords.

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D9 - Microeconomics - - Micro-Based Behavioral Economics

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