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Growth And Convergence: A Profile Of Distribution Dynamics And Mobility

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  • Maasoumi, Esfandiar

    ()
    (SMU)

  • Racine, Jeff

    (MCMASTER UNIVERSITY)

Abstract

In this paper we focus primarily on the dynamic evolution of the world distribution of growth rates in per capita GDP. We propose new concepts and measures of "convergence," or "divergence" that are based on entropy distances and dominance relations between groups of countries over time. We update the sample period to include the most recent decade of data available, and we o er traditional parametric and new nonparametric estimates of the most widely used growth regressions for two important subgroups of countries, OECD and non-OECD. Traditional parametric models are rejected by the data, however, using robust nonparametric methods we nd strong evidence in favor of "polarization" and "within group" mobility. Key Words: Growth, convergence, distribution dynamics, entropy, stochastic dominance, non- parametric, international cross-section.

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Bibliographic Info

Paper provided by Southern Methodist University, Department of Economics in its series Departmental Working Papers with number 0605.

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Date of creation: Dec 2006
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Handle: RePEc:smu:ecowpa:0605

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Postal: Department of Economics, P.O. Box 750496, Southern Methodist University, Dallas, TX 75275-0496
Phone: 214-768-2715
Fax: 214-768-1821
Web page: http://www.smu.edu/economics

Related research

Keywords: Growth; convergence; distribution dynamics; entropy; stochastic dominance; non- parametric; international cross-section.;

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References

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  1. Durlauf, Steven N & Johnson, Paul A, 1995. "Multiple Regimes and Cross-Country Growth Behaviour," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(4), pages 365-84, Oct.-Dec..
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  3. Oliver Linton & Esfandiar Maasoumi & Yoon-Jae Wang, 2002. "Consistent testing for stochastic dominance: a subsampling approach," CeMMAP working papers CWP03/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
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  19. Summers, Robert & Heston, Alan, 1988. "A New Set of International Comparisons of Real Product and Price Levels Estimates for 130 Countries, 1950-1985," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 34(1), pages 1-25, March.
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  23. Bruce E. Hansen, 2000. "Sample Splitting and Threshold Estimation," Econometrica, Econometric Society, vol. 68(3), pages 575-604, May.
  24. C. W. Granger & E. Maasoumi & J. Racine, 2004. "A Dependence Metric for Possibly Nonlinear Processes," Journal of Time Series Analysis, Wiley Blackwell, vol. 25(5), pages 649-669, 09.
  25. Li, Qi & Racine, Jeff, 2003. "Nonparametric estimation of distributions with categorical and continuous data," Journal of Multivariate Analysis, Elsevier, vol. 86(2), pages 266-292, August.
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