Patterns of Economic Development and the Formation of Clubs
This study investigates the sources of heterogeneity across a worldwide set of countries. Unspecified ex ante and unanticipated cultural (Protestant versus Catholic), geographical (continents), and institutional (OECD versus non-OECD) clubs emerge endogenously and naturally as homogeneous classes on the basis of their economic structure. The dynamics both within and across the identified groups of countries are consistent with multiple equilibrium-growth models proposed by, for instance, Azariadis and Drazen (1990), therefore strengthening the viability of the convergence club hypothesis. In particular, higher stages of development are, on average, non linearly associated with higher stages of growth. Copyright 1999 by Kluwer Academic Publishers
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- Steven N. Durlauf & Danny T. Quah, 1998.
"The New Empirics of Economic Growth,"
98-01-012, Santa Fe Institute.
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- Azariadis, Costas, 1996. " The Economics of Poverty Traps: Part One: Complete Markets," Journal of Economic Growth, Springer, vol. 1(4), pages 449-96, December.
- repec:cup:cbooks:9780521637695 is not listed on IDEAS
- Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
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