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Trade and Convergence: A Dynamic Panel Data Approach

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  • Veysel Ulusoy

Abstract

The objective of this paper is to provide, theoretically and empirically, an interpretation of comovement between the scale of an economy and its growth rate. I paid special attention to human capital accumulation and international trade environment and emphasized their spillover effects on growth and convergence among countries. 1 employed a technique using a cross‐sectional and time series panel. The estimations in my empirical models were done using the nonlinear least‐squares method in which I applied a dynamic procedure for an economy along its balanced growth path. I arrived at mixed results. The empirical results show that international spillover effects of human capital accumulation and intermediate goods production have positive and significant effects on the growth process of a nation. The national level of human capital, however, has negative and insignificant effects on this process.

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  • Veysel Ulusoy, 2001. "Trade and Convergence: A Dynamic Panel Data Approach," Southern Economic Journal, John Wiley & Sons, vol. 68(1), pages 133-144, July.
    • Handle: RePEc:wly:soecon:v:68:y:2001:i:1:p:133-144
    DOI: 10.1002/j.2325-8012.2001.tb00402.x
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