Teaching Convergence: A Contribution
AbstractThe issue of convergence has been hotly debated since the mid 1980s. Only recently certain consensus has arisen around some of the most fundamental issues. It seems hardly surprising, then, to find a large variation in how those issues are taught to undergraduates. This paper is an attempt at clarifying the different concepts of convergence, and their relation to both the neoclassical model of growth and available cross-country evidence. Evidence on some of the contradictory ways in which the issues are taught is provided, a simple way to teach the relevant concepts of convergence by means of numerical examples is presented, and relevant examples drawn from historical evidence are shown. Also, the implications of the neoclassical growth model are presented in a slightly different, but clearer way, and some of the difficulties to interpret the cross-country empirical evidence are reviewed.
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Bibliographic InfoPaper provided by University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics in its series Working Papers with number 06-014.
Length: 27 pages
Date of creation: Dec 2006
Date of revision:
International Convergence; Economic Growth; World income distribution;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O50 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-02-10 (All new papers)
- NEP-HIS-2007-02-10 (Business, Economic & Financial History)
- NEP-MAC-2007-02-10 (Macroeconomics)
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