IDEAS home Printed from https://ideas.repec.org/a/kap/openec/v35y2024i4d10.1007_s11079-024-09774-5.html
   My bibliography  Save this article

Introduction: Consensus on Convergence

Author

Listed:
  • Bruno Deschamps

    (University of Nottingham Ningbo China)

  • Kent Matthews

    (Cardiff University
    University of Nottingham Ningbo China)

Abstract

The lack of evidence for growth convergence between economies has resulted in two responses in the literature. One response has been to challenge the basis of the neo-classical theory that predicts convergence resulting in models of endogenous growth. Another has been to condition convergence to a steady state that itself is a function of institutions, human capital, and historical factors. The finding of cross-country absolute convergence in recent decades published in the NBER Macroeconomic Annual of 2022 has raised a further issue – what is meant by convergence? Papers presented at the Convergence and Determinants of Growth and Productivity workshop in 2023 at the University of Nottingham addressed this issue head on and extended the notion of convergence beyond economies to markets. This Special Issue publishes a selection of papers from the workshop covering methodology, cross-country, single country, and markets.

Suggested Citation

  • Bruno Deschamps & Kent Matthews, 2024. "Introduction: Consensus on Convergence," Open Economies Review, Springer, vol. 35(4), pages 695-699, September.
    • Handle: RePEc:kap:openec:v:35:y:2024:i:4:d:10.1007_s11079-024-09774-5
    DOI: 10.1007/s11079-024-09774-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11079-024-09774-5
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11079-024-09774-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Milton Friedman, 1957. "Introduction to "A Theory of the Consumption Function"," NBER Chapters, in: A Theory of the Consumption Function, pages 1-6, National Bureau of Economic Research, Inc.
    3. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    4. Kinnunen, Maarit & Wood, Emma H. & Li, Yanning & Moss, Jonathan, 2022. "Self-recorded conversations in tourism memory research," Annals of Tourism Research, Elsevier, vol. 96(C).
    5. Michael Kremer & Jack Willis & Yang You, 2022. "Converging to Convergence," NBER Macroeconomics Annual, University of Chicago Press, vol. 36(1), pages 337-412.
    6. Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1, July.
    7. Simon Kuznets & Lillian Epstein & Elizabeth Jenks, 1946. "National Product since 1869," NBER Books, National Bureau of Economic Research, Inc, number kuzn46-1, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ron P. Smith, 2024. "Econometric Aspects of Convergence: A Survey," Open Economies Review, Springer, vol. 35(4), pages 701-721, September.
    2. Brautzsch, Hans-Ulrich & Günther, Jutta & Loose, Brigitte & Ludwig, Udo & Nulsch, Nicole, 2015. "Can R&D subsidies counteract the economic crisis? – Macroeconomic effects in Germany," Research Policy, Elsevier, vol. 44(3), pages 623-633.
    3. Valentina Ciriotto & José Noguera-Santaella, 2023. "The Catching up in Steady State per Capita Income: Latin America and the Caribbean," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 51(1), pages 71-82, March.
    4. Singh, Tarlok, 2010. "Does domestic saving cause economic growth? A time-series evidence from India," Journal of Policy Modeling, Elsevier, vol. 32(2), pages 231-253, March.
    5. Mulligan, C. B. & Sala-i-Martin, X., 1997. "A labor income-based measure of the value of human capital: An application to the states of the United States," Japan and the World Economy, Elsevier, vol. 9(2), pages 159-191, May.
    6. Podshivalov, Georgii, 2019. "Observing the Evolution in Macroeconomic Theory," MPRA Paper 97657, University Library of Munich, Germany.
    7. Roberto Bande & Dolores Riveiro, 2013. "Private Saving Rates and Macroeconomic Uncertainty: Evidence from Spanish Regional Data," The Economic and Social Review, Economic and Social Studies, vol. 44(3), pages 323-349.
    8. John Foster, 2021. "The US consumption function: a new perspective," Journal of Evolutionary Economics, Springer, vol. 31(3), pages 773-798, July.
    9. Christopher B. Barrett & John G. McPeak, 2006. "Poverty Traps and Safety Nets," Economic Studies in Inequality, Social Exclusion, and Well-Being, in: Alain Janvry & Ravi Kanbur (ed.), Poverty, Inequality and Development, chapter 0, pages 131-154, Springer.
    10. Mankiw, N. Gregory, 2008. "Makroekonomista jako naukowiec i inżynier," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2008(4), April.
    11. Zhiheng He & Yang You, 2024. "Convergence in Financial Development and Growth," Open Economies Review, Springer, vol. 35(4), pages 779-799, September.
    12. Arghyrou, Michael G, 2014. "Is Greece turning the corner? A theory-based assessment of recent Greek macro-policy," Cardiff Economics Working Papers E2014/16, Cardiff University, Cardiff Business School, Economics Section.
    13. Francis E. Raymond, 2024. "Connecting Classical and Early Neoclassical Views on Savings and Capital Formation to Modern Growth Theory Through the Lens of F. P. Ramsey," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 50(1), pages 54-78, January.
    14. Bode, Eckhardt, 1996. "Ursachen regionaler Wachstumsunterschiede: wachstumstheoretische Erklärungsansätze," Kiel Working Papers 740, Kiel Institute for the World Economy (IfW Kiel).
    15. Rima Aloulou & Maha Kalai & Kamel Helali, 2023. "The symmetric and asymmetric impacts of external debt on economic growth in Tunisia: evidence from linear and nonlinear ARDL models," SN Business & Economics, Springer, vol. 3(7), pages 1-28, July.
    16. Bell, William Paul, 2005. "An evaluation of policies to reduce fiscal pressure induced by population ageing in Australia," MPRA Paper 38286, University Library of Munich, Germany.
    17. Anonymous or collective, 1998. "La demande des ménages," Économie et Prévision, Programme National Persée, vol. 134(3), pages 41-56.
    18. Huang, Jiayi & Zhou, Peng, 2024. "Causes and effects of social media engagement in luxury fashion marketing: A comparative study over the COVID pandemic," Cardiff Economics Working Papers E2024/16, Cardiff University, Cardiff Business School, Economics Section.
    19. Christopher D. Carroll & Lawrence H. Summers, 1991. "Consumption Growth Parallels Income Growth: Some New Evidence," NBER Chapters, in: National Saving and Economic Performance, pages 305-348, National Bureau of Economic Research, Inc.
    20. N. G. Mankiw, 2009. "The Macroeconomist as Scientist and Engineer," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 5.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:openec:v:35:y:2024:i:4:d:10.1007_s11079-024-09774-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.