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Income Development and Sigma convergence in South–South Agreement Areas

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  • Yvonne Sperlich
  • Stefan Sperlich

Abstract

Some of the new trade and economic geography theory findings are quite critical concerning the so called South-South-agreements. This study contributes to this discussion by means of an empirical analysis of a representative set of South-South integration areas. Sperlich and Sperlich (2011) have proven that these promote growth and betaconvergence. Here we analyse the income developments of its member states and check for income (sigma) convergence in each area. The results show that income dispersion does not generally decrease although we find some indications of sigma convergence. Furthermore, even when we correct for possible business cycle effects in a rather generous way, the sigma path is hardly ever monotone. These findings will be placed in relation to growth models and beta convergence. All results are compared to existing studies on the particular integration areas.

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Bibliographic Info

Paper provided by Institut d'Economie et Econométrie, Université de Genève in its series Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva with number 12031.

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Length: 28 pages
Date of creation: Mar 2012
Date of revision:
Handle: RePEc:gen:geneem:12031

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Related research

Keywords: South-South agreements; sigma convergence; regional integration; development economics; income dispersion;

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References

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  1. Marvin Goodfriend & John McDermott, 1999. "Industrial development and the convergence question," Working Paper 99-01, Federal Reserve Bank of Richmond.
  2. Sala-i-Martin, Xavier, 1994. "Regional Cohesion: Evidence and Theories of Regional Growth and Convergence," CEPR Discussion Papers 1075, C.E.P.R. Discussion Papers.
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  11. J.A. Duro, 2004. "Regional Income Inequalities in Europe: An Updated Measurement and Some Decomposition Results," Working Papers wpdea0411, Department of Applied Economics at Universitat Autonoma of Barcelona.
  12. Ben-David, Dan, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 653-79, August.
  13. Nicholas Minot & Francesco Goletti, 1998. "Export Liberalization and Household Welfare: The Case of Rice in Vietnam," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 738-749.
  14. Giannetti, Mariassunta, 2002. "The effects of integration on regional disparities: Convergence, divergence or both?," European Economic Review, Elsevier, vol. 46(3), pages 539-567, March.
  15. Hakim Hammouda & Stephen Karingi & Angelica Njuguna & Mustapha Jallab, 2009. "Why Doesn’t Regional Integration Improve Income Convergence in Africa?," African Development Review, African Development Bank, vol. 21(2), pages 291-330.
  16. 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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