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The Econometrics of Convergence

In: Palgrave Handbook of Econometrics

Author

Listed:
  • Steven N. Durlauf
  • Paul A. Johnson
  • Jonathan R. W. Temple

Abstract

The presence or absence of convergence between rich and poor countries represents one of the most important questions in the new growth economics. New growth theories have been explicitly designed to explain forms of divergence which do not appear in their neoclassical counterparts. Despite substantial empirical work on convergence, there is no consensus as to whether it is present in cross-country data. This chapter surveys the econometrics of convergence as well as the range of empirical claims that have appeared. Particular attention is given to the relationship between statistical versus economic notions of convergence. We argue that the disparities in claims across empirical studies can to some extent be understood as reflecting inadequate attention to the relationship between the statistical and economic notions.

Suggested Citation

  • Steven N. Durlauf & Paul A. Johnson & Jonathan R. W. Temple, 2009. "The Econometrics of Convergence," Palgrave Macmillan Books, in: Terence C. Mills & Kerry Patterson (ed.), Palgrave Handbook of Econometrics, chapter 23, pages 1087-1118, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-24440-5_23
    DOI: 10.1057/9780230244405_23
    as

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