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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
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    References listed on IDEAS

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