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Simple Measures of Convergence in Per Capita GDP: A Note on Some Further International Evidence

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  • Gerry Boyle;

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  • Tom McCarthy

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    Abstract

    We apply simple measures of convergence in per capita GDP, namely, the trends in the coefficient of variation (sigma-convergence) and rank concordance (gamma-convergence), for the period 1960-1992 to a wide group of countries which are classified using the World Bank typology. The findings indicate sigma-convergence,albeit at a slow rate, for "High Income" and "Upper Middle Income" countries, very slow to negligible convergence for "Lower Middle Income" countries and divergence for "Low Income" countries. Our results also suggest several periods for all country categories when sigma- convergence is constant. However, since we do not find gamma-convergence during these episodes, we conclude that beta-convergence is not demonstrated. The rank concordance measure emerges as significant only from about the late 1980s, save in the case of "Low Income" countries where "leap frogging" is observed from about 1981. The implications of these results for the neoclassical growth model are discussed.

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    Bibliographic Info

    Paper provided by Department of Economics, Finance and Accounting, National University of Ireland - Maynooth in its series Economics, Finance and Accounting Department Working Paper Series with number n751197.

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    Length: 13 pages
    Date of creation: Nov 1997
    Date of revision:
    Handle: RePEc:may:mayecw:n751197

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    Postal: Maynooth, Co. Kildare
    Phone: 353-1-7083728
    Fax: 353-1-7083934
    Web page: http://economics.nuim.ie
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    Keywords: Economic Growth;

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    References

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    1. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
    2. Quah, Danny, 1993. " Galton's Fallacy and Tests of the Convergence Hypothesis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 95(4), pages 427-43, December.
    3. Gerry Boyle; & Thomas McCarthy, 1995. "A Simple Measure of Beta-Convergence," Economics, Finance and Accounting Department Working Paper Series n560495, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
    4. Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December.
    5. Barro, Robert J, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 407-43, May.
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    Cited by:
    1. Naved Ahmad, 2008. "Corrupt clubs and the convergence hypothesis," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 11(1), pages 21-28.
    2. Martín, Carmela & Mulas-Granados, Carlos & Sanz, Ismael, 2005. "Spatial distribution of R&D expenditure and patent applications across EU regions and its impact on economic cohesion," Investigaciones Regionales, Asociación Española de Ciencia Regional, issue 6, pages 41-61.
    3. Carmela Martin & Francisco J. Velazquez., 2001. "An Assessment of Real Convergence of Less Developed EU Members: Lessons for the CEEC Candidates," European Economy Group Working Papers 5, European Economy Group.
    4. Paul Bishop & Peter Gripaios, 2004. "Earnings biases and convergence in the UK: a county level analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 11(1), pages 33-37.
    5. Carmela Martín & Ismael Sanz, 2003. "Real Convergence and European Integration: The Experience of the Less Developed EU Members," Empirica, Springer, vol. 30(3), pages 205-236, September.
    6. Ismael Sanz & Francisco J. Velazquez, 2001. "The evolution and convergence of the government expenditure composition in the OECD countries: an analysis of the functional distribution," European Economy Group Working Papers 9, European Economy Group.
    7. Iulia Andreea Bucur, 2012. "National And Regional Coordinates Of The Real Convergence Process Intensity In The Enlarged European Union," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4, pages 274-287, September.
    8. Kenneth G. Stewart & Michael C. Webb, 2003. "Capital Taxation, Globalization, and International Tax Competition," Econometrics Working Papers 0301, Department of Economics, University of Victoria.

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