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Twin Peaks: Growth and Convergence in Models of Distribution Dynamics

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  • Danny Quah
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    Abstract

    Convergence concerns poor economies catching up with rich ones. At issue is what happens to the cross sectional distribution of economies, not whether a single economy tends towards its own steady state. It is the latter, however, that has preoccupied the traditional approach to convergence analysis. This paper describes an alternative body of research that overcomes this shortcoming in the traditional approach. The new findings - on persistence and stratification, on the formation off convergence clubs, and on the distribution polarizing into twin peaks of rich and poor- suggest the relevance of a class of theoretical ideas, different from those surrounding the production-function accounting traditionally favoured.

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    Bibliographic Info

    Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0280.

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    Date of creation: Jan 1996
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    Handle: RePEc:cep:cepdps:dp0280

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    Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

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    1. repec:att:wimass:9127 is not listed on IDEAS
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    8. Danny Quah, 1992. "Empirical cross-section dynamics in economic growth," Discussion Paper / Institute for Empirical Macroeconomics 75, Federal Reserve Bank of Minneapolis.
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    10. Quah, Danny T., 1996. "Regional convergence clusters across Europe," European Economic Review, Elsevier, vol. 40(3-5), pages 951-958, April.
    11. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June.
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