Empirical cross-section dynamics in economic growth
Traditional empirical strategies for studying convergence - more generally, the dynamics and determinants of economic growth, can be misleading if important, underlying permanent or growth components are stochastically time-varying. This paper documents the degree to which this instability characterises the data, and then offers an alternative empirical framework. This alternative, directly modelling the dynamics of the evolving cross-section distributions, applied to cross-country income data yields some interesting insights: economies across the world seem to be converging to a distribution where many remain wealthy, and many remain poor. Those economies able to make the transition from low to high income levels are primarily small and sparsely populated; middle-income ones, by contrast, are a vanishing class.
(This abstract was borrowed from another version of this item.)
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barro, R.J. & Sala-I-Martin, X., 1991.
"Convergence Across States and Regions,"
629, Yale - Economic Growth Center.
- Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-51, April.
- Robert J. Barro & Xavier Sala-i-Martin, 1991. "Convergence across States and Regions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 107-182.
- Burton Singer & Seymour Spilerman, 1976. "Some Methodological Issues in the Analysis of Longitudinal Surveys," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 4, pages 447-474 National Bureau of Economic Research, Inc.
- Geweke, John & Marshall, Robert C & Zarkin, Gary A, 1986. "Mobility Indices in Continuous Time Markov Chains," Econometrica, Econometric Society, vol. 54(6), pages 1407-23, November.
When requesting a correction, please mention this item's handle: RePEc:eee:eecrev:v:37:y:1993:i:2-3:p:426-434. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.