Patterns of Economic Development and the Formation of Clubs
AbstractThis study investigates the sources of heterogeneity across a worldwide set of countries. Unspecified ex ante and unanticipated cultural (Protestant versus Catholic), geographical (continents), and institutional (OECD versus non-OECD) clubs emerge endogenously and naturally as homogeneous classes on the basis of their economic structure. The dynamics both within and across the identified groups of countries are consistent with multiple equilibrium-growth models proposed by, for instance, Azariadis and Drazen (1990), therefore strengthening the viability of the convergence club hypothesis. In particular, higher stages of development are, on average, non linearly associated with higher stages of growth. Copyright 1999 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Economic Growth.
Volume (Year): 4 (1999)
Issue (Month): 3 (September)
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Web page: http://www.springerlink.com/link.asp?id=102931
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Royal Economic Society, vol. 106(437), pages 1056-69, July.
- Aoki,Masanao, 1998. "New Approaches to Macroeconomic Modeling," Cambridge Books, Cambridge University Press, number 9780521637695, November.
- Azariadis, Costas, 1996.
" The Economics of Poverty Traps: Part One: Complete Markets,"
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- Costas Azariadis, 1996. "The Economics of Poverty Traps Part One: Complete Markets," Working Papers 9606, Centro de Investigacion Economica, ITAM.
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