Nonlinear economic growth: Some theory and cross-country evidence
AbstractThe paper aims to test the existence of different regimes in the growth process. We propose a simple nonlinear growth model which features different relationships between growth rate and income level. We iden tify its testable implications in terms of state space dynamics. By estimating Markov transition matrices we show that growth is indeed a nonlinear process. Economic growth proceeds by alternating phases of acceleration and deceleration. We discuss the relevance of these results with respect to the issue of income convergence across countries and models of technological diffusion.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Development Economics.
Volume (Year): 84 (2007)
Issue (Month): 1 (September)
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Web page: http://www.elsevier.com/locate/devec
Other versions of this item:
- Davide Fiaschi & Andrea Mario Lavezzi, 2003. "Nonlinear Economic Growth: Some Theory and Cross-Country Evidence," Discussion Papers 2003/14, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
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