Simple Measures of Convergence in Per Capita GDP: A Note on Some Further International Evidence
We apply simple measures of convergence in per capita GDP, namely, the trends in the coefficient of variation (sigma-convergence) and rank concordance (gamma-convergence), for the period 1960-1992 to a wide group of countries which are classified using the World Bank typology. The findings indicate sigma-convergence,albeit at a slow rate, for "High Income" and "Upper Middle Income" countries, very slow to negligible convergence for "Lower Middle Income" countries and divergence for "Low Income" countries. Our results also suggest several periods for all country categories when sigma- convergence is constant. However, since we do not find gamma-convergence during these episodes, we conclude that beta-convergence is not demonstrated. The rank concordance measure emerges as significant only from about the late 1980s, save in the case of "Low Income" countries where "leap frogging" is observed from about 1981. The implications of these results for the neoclassical growth model are discussed.
|Date of creation:||Nov 1997|
|Contact details of provider:|| Postal: Maynooth, Co. Kildare|
Web page: http://www.maynoothuniversity.ie/economics-finance-and-accounting
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert J. Barro, 1991.
"Economic Growth in a Cross Section of Countries,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 106(2), pages 407-443.
- Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
- Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
- N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
- N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
- Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-2132, December.
- Boyle, G E & McCarthy, T G, 1997. "A Simple Measure of Beta-Convergence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 59(2), pages 257-264, May.
- Gerry Boyle; & Thomas McCarthy, 1995. "A Simple Measure of Beta-Convergence," Economics, Finance and Accounting Department Working Paper Series n560495, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
- Quah, Danny, 1993. " Galton's Fallacy and Tests of the Convergence Hypothesis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 95(4), pages 427-443, December.
- Quah, Danny, 1993. "Galton's Fallacy and Tests of the Convergence Hypothesis," CEPR Discussion Papers 820, C.E.P.R. Discussion Papers.