- Japan/Usa: (The Apparent) Miracle Of Convergence

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- Japan/Usa: (The Apparent) Miracle Of Convergence

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Matilde Mas Ivars () (Instituto Valenciano de Investigaciones Económicas)
Francisco José Goerlich Gisbert (Universitat de València)

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Abstract

With reference to the Baumol/de Long controversy over the importance of the sample selection when verifying the convergence hypothesis, the paper concludes that the convergence results are conditioned by the joint consideration of the United States and Japan in the same country sample. The illustration of this result lays on the ó-convergence concept and uses the simple coefficient of variation as dispersion statistics. The database is the one provided by the OCDE regarding prices and estimates of constant purchasing power parity (base year 1990). In the Appendix, the results are compared with those obtained with an alternative source, the database supplied by Summers and Heston (Mark 5.6). Tomando como referente la polémica Baumol/de Long sobre la importancia de la selección de la muestra en la contrastación de la hipótesis de convergencia, el trabajo concluye que ésta se encuentra condicionada por la consideración conjunta de Estados Unidos y Japón en la muestra de países. La ilustración de este resultado descansa en el concepto de ó-convergencia y utiliza como estadístico de dispersión el coeficiente de variación simple. La base de datos es la proporcionada por la OCDE relativa a precios y paridad de poder de compra constantes (año base 1990). En el Anexo se comparan los resultados con los obtenidos utilizando, como fuente alternativa, la base de datos proporcionada por Summers y Heston (Mark 5.6).

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Publisher Info
Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1998-20.

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Length: 14 pages
Date of creation: Oct 1998
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Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1998-20

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References listed on IDEAS
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Baumol, William J & Wolff, Edward N, 1988. "Productivity Growth, Convergence, and Welfare: Reply," American Economic Review, American Economic Association, vol. 78(5), pages 1155-59, December. [Downloadable!] (restricted)
Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May. [Downloadable!] (restricted)
Daban, Teresa & Domenech, Rafael & Molinas, Cesar, 1997. "International and Intertemporal Comparisons of Real Product in OECD Countries: A Growth Sensitivity Analysis," Review of Income and Wealth, Blackwell Publishing, vol. 43(1), pages 33-48, March.
De Long, J Bradford, 1988. "Productivity Growth, Convergence, and Welfare: Comment," American Economic Review, American Economic Association, vol. 78(5), pages 1138-54, December. [Downloadable!] (restricted)
Other versions:
- J. Bradford De Long, . "Productivity Growth, Convergence, and Welfare: Comment," J. Bradford De Long's Working Papers _129, University of California at Berkeley, Economics Department. [Downloadable!]
Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-51, April. [Downloadable!] (restricted)
Other versions:
- Barro, R.J. & Sala-I-Martin, X., 1991. "Convergence," Papers 645, Yale - Economic Growth Center.
- Barro, R.J. & Sala-I-Martin, X., 1991. "Convergence Across States and Regions," Papers 629, Yale - Economic Growth Center.
Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June. [Downloadable!]
Steven N. Durlauf & Paul A. Johnson, 1992. "Local Versus Global Convergence Across National Economies," NBER Working Papers 3996, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)

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