Income Development and Sigma convergence in South–South Agreement Areas
Some of the new trade and economic geography theory findings are quite critical concerning the so called South-South-agreements. This study contributes to this discussion by means of an empirical analysis of a representative set of South-South integration areas. Sperlich and Sperlich (2011) have proven that these promote growth and betaconvergence. Here we analyse the income developments of its member states and check for income (sigma) convergence in each area. The results show that income dispersion does not generally decrease although we find some indications of sigma convergence. Furthermore, even when we correct for possible business cycle effects in a rather generous way, the sigma path is hardly ever monotone. These findings will be placed in relation to growth models and beta convergence. All results are compared to existing studies on the particular integration areas.
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