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Convergence Empirics across Economies with (Some) Capital Mobility

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  • Danny Quah

Abstract

The 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, ad 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.

Suggested Citation

  • Danny Quah, 1995. "Convergence Empirics across Economies with (Some) Capital Mobility," CEP Discussion Papers dp0257, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepdps:dp0257
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    File URL: https://cep.lse.ac.uk/pubs/download/DP0257.pdf
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    References listed on IDEAS

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    1. Quah, Danny, 1993. "Empirical cross-section dynamics in economic growth," European Economic Review, Elsevier, vol. 37(2-3), pages 426-434, April.
    2. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, vol. 62(4), pages 540-552, September.
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    Cited by:

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    2. Slavov, Slavi T., 2009. "Do common currencies facilitate the net flow of capital among countries?," The North American Journal of Economics and Finance, Elsevier, vol. 20(2), pages 124-144, August.
    3. de la Fuente, Angel, 2002. "On the sources of convergence: A close look at the Spanish regions," European Economic Review, Elsevier, vol. 46(3), pages 569-599, March.
    4. Alejandro Diaz Bautista & Mauro Diaz Dominguez, 2004. "Capital Humano y Crecimiento Económico en México (1970-2000). Human Capital and Economic Growth in Mexico," Urban/Regional 0405008, University Library of Munich, Germany.
    5. Warwick McKibbin & David Pearce & Alison Stegman, 2004. "Long Run Projections For Climate Change Scenarios," CAMA Working Papers 2004-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    6. REY, Serge, 2005. "Convergence réelle et convergence nominale dans les Pays de la région MENA [Real and nominal convergence amongst MENA countries]," MPRA Paper 30206, University Library of Munich, Germany.
    7. Devasmita JENA, 2018. "Economic integration and income convergence in the EU and the ASEAN," Journal of Economics Library, KSP Journals, vol. 5(1), pages 1-11, March.
    8. McKibbin, Warwick J. & Pearce, David & Stegman, Alison, 2007. "Long term projections of carbon emissions," International Journal of Forecasting, Elsevier, vol. 23(4), pages 637-653.

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