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Globalization, Institutions, and Income Convergence

Author

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  • Harger, Kaitlyn
  • Young, Andrew T.
  • Hall, Joshua

Abstract

The income convergence literature suggests that poor countries or regions can catch up to rich ones conditional on sharing certain characteristics with rich countries or regions. Good institutions such as strong property rights and rule of law are key among those characteristics. Globalization provides opportunities for agents in poor economies to learn about and experi-ment with institutional innovations across regions. We estimate the relationship between glob-alization and cross-country income convergence using a panel of up to 184 countries covering 1970 to 2009. We employ the KOF index of globalization and control for measures of political and economic institutional quality. A standard deviation increase in the KOF index is associ-ated with a country closing the gap between its income per capita level and that of the richest country by an additional 13.6% annually.

Suggested Citation

  • Harger, Kaitlyn & Young, Andrew T. & Hall, Joshua, 2017. "Globalization, Institutions, and Income Convergence," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 47(2).
    • Handle: RePEc:ags:jrapmc:293624
    DOI: 10.22004/ag.econ.293624
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    Cited by:

    1. Tushar Bharati & Mohammad Farhad & Michael Jetter, 2023. "On the relationship between trade openness and government size," The World Economy, Wiley Blackwell, vol. 46(7), pages 2102-2133, July.
    2. Heckelman, Jac C. & Young, Andrew, 2018. "How Global is Globalization?," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 48(3), August.
    3. Andres Lopez & Sonia De Lucas & Maria Jesus Delgado, 2021. "Economic convergence in a globalized world: The role of business cycle synchronization," PLOS ONE, Public Library of Science, vol. 16(10), pages 1-20, October.

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    Keywords

    Public Economics;

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