Globalization and Consumption Patterns among the OECD Countries
The paper examines the evolution of consumption patterns in Organization for Economic Co-operation and Development (OECD) countries from 1985 to 1999. Estimation of demand function parameters uncovered consistent evidence that differences in consumption patterns have recently diminished between the countries. The paper further uncovers an empirical relationship that indicates that increased bilateral trade and foreign direct investment (FDI) has contributed to the convergence of consumption patterns. The result is robust to the consideration of endogeneity in the trade and FDI variables.
|Date of creation:||22 Jun 2004|
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- Ben-David, Dan, 1996.
"Trade and convergence among countries,"
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- David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
- Dean R. Hyslop, 2001. "Rising U.S. Earnings Inequality and Family Labor Supply: The Covariance Structure of Intrafamily Earnings," American Economic Review, American Economic Association, vol. 91(4), pages 755-777, September.
- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
- Jeffrey G. Williamson, 1995. "Globalization, Convergence and History," NBER Working Papers 5259, National Bureau of Economic Research, Inc. Full references (including those not matched with items on IDEAS)
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