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Growth and convergence: A profile of distribution dynamics and mobility

  • Maasoumi, Esfandiar
  • Racine, Jeff
  • Stengos, Thanasis

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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Article provided by Elsevier in its journal Journal of Econometrics.

Volume (Year): 136 (2007)
Issue (Month): 2 (February)
Pages: 483-508

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Handle: RePEc:eee:econom:v:136:y:2007:i:2:p:483-508
Contact details of provider: Web page: http://www.elsevier.com/locate/jeconom

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