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The Convergence Hypothesis: History, Theory, and Evidence

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  • Farhad Rassekh

Abstract

The hypothesis that per capita output converges across economies over time represents one of the oldest controversies in economics. This essay surveys the history and development of the hypothesis, focusing particularly on its vast literature since the mid-1980s. A summary of empirical analyses, econometric issues, and various tests of the convergence hypothesis are also presented. Moreover, the essay analyzes the implications of the hypothesis for economic growth, especially as it relates to underdeveloped economies. Copyright Kluwer Academic Publishers 1998

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  • Farhad Rassekh, 1998. "The Convergence Hypothesis: History, Theory, and Evidence," Open Economies Review, Springer, vol. 9(1), pages 85-105, January.
    • Handle: RePEc:kap:openec:v:9:y:1998:i:1:p:85-105
    DOI: 10.1023/A:1008279323832
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    3. Chowdhury, K, 2005. "What´s Happening to Per Capita Gdp in the ASEAN Countries?. An Analysis of Convergence, 1960-2001," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 5(3).
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    16. Donghyun Park & Shahidur Rahman, 2001. "Inter-Country Income Convergence within ASEAN, 1960–2000," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 4(2), pages 89-95, September.
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