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Cross-Country Income Differences: Emerging Economies

Author

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  • Iulia ROȘOIU

    (Academy of Economic Studies, Bucharest, Romania)

Abstract

The purpose of this article is to analyze why there are very large differences in income per capita (or output per worker) across countries today and to examine whether countries with same characteristics will develop in the same time and will grow fast enough to reduce the income gap between themselves. The empirical study analyzes the income evolution of six countries over the period 1995-2016: Romania, Poland, Hungary, Croatia, Czech Republic and Bulgaria. Several models are estimated in order to test the „unconditional convergence” and „conditional convergence”. The second type of convergence is tested based on Solow model, which includes investments in physical capital and population growth (increased with technological growth and capital depreciation rate) and based on Augmented Solow model, which adds human capital.

Suggested Citation

  • Iulia ROȘOIU, 2019. "Cross-Country Income Differences: Emerging Economies," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 13, pages 43-53, July.
    • Handle: RePEc:cmj:networ:y:2019:i:13:p:43-53
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    More about this item

    Keywords

    Basic Solow Model; Augmented Solow Model; Convergence; Steady state; Cross-country analysis;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

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