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Paradise Lost? Growth, Convergence, and Migration in the South Pacific

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  • Paul Cashin
  • Norman Loayza

Abstract

This paper examines the growth experience of nine South Pacific countries during the period 1971-93, using the analytical framework of the Solow-Swan neoclassical growth model, panel data, and Chamberlain's �-matrix estimator. The speed of convergence of South Pacific countries to their respective steady-state levels of per capita GDP, after controlling for the important regional effects of net international migration, is estimated at a relatively fast 4 percent per year. In addition, private and official transfers emanating from regional donor countries have kept the dispersion of real per capita national disposable income constant over the period, despite a significant widening in the regional dispersion of real per capita GDP.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal International Monetary Fund Staff Papers.

Volume (Year): 42 (1995)
Issue (Month): 3 (September)
Pages: 608-641

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Handle: RePEc:pal:imfstp:v:42:y:1995:i:3:p:608-641

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Cited by:
  1. DOBSON, Steve & RAMLOGAN, Carlyn & STROBL, Eric, 2003. "Why do rates of convergence differ ? A meta-regression analysis," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2003020, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Bertram, Geoffrey, 2004. "On the Convergence of Small Island Economies with Their Metropolitan Patrons," World Development, Elsevier, Elsevier, vol. 32(2), pages 343-364, February.
  3. Patrizia Tumbarello & Ezequiel Cabezon & Yiqun Wu, 2013. "Are the Asia and Pacific Small States Different from Other Small States?," IMF Working Papers, International Monetary Fund 13/123, International Monetary Fund.
  4. Maria Abreu & Henri L.F. de Groot & Raymond J.G.M. Florax, 2005. "A Meta-Analysis of Beta-Convergence: The Legendary Two-Percent," Tinbergen Institute Discussion Papers, Tinbergen Institute 05-001/3, Tinbergen Institute.
  5. Easterly, William & Kraay, Aart, 1999. "Small states, small problems?," Policy Research Working Paper Series, The World Bank 2139, The World Bank.
  6. repec:dgr:uvatin:2005001 is not listed on IDEAS
  7. Easterly, William & Kraay, Aart, 2000. "Small States, Small Problems? Income, Growth, and Volatility in Small States," World Development, Elsevier, Elsevier, vol. 28(11), pages 2013-2027, November.

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