IDEAS home Printed from https://ideas.repec.org/p/rbz/oboens/11039.html
   My bibliography  Save this paper

Revisiting EM economic development and convergence

Author

Listed:
  • Jean-Francois Mercier

Abstract

Long-term convergence of emerging countries towards advanced economies income/capita levels has never been generalized nor consistent, even though the share of countries that converged has risen since 2000. Broader adoption of stability-oriented macro policies and trade/capital account opening probably facilitated a greater degree of convergence, but it seemed to be neither a sufficient (nor in some cases necessary) condition. Failure by many countries to successfully reallocate resources towards sectors with higher productivity gains may explain why they failed to match the performance of dynamic Asian economies, or even converge at all. The need to expand high value-added manufacturing and services sector appears strong in South Africa, which remains a commodity-dependent economy with a limited skills base and insufficient productivity growth.

Suggested Citation

  • Jean-Francois Mercier, 2022. "Revisiting EM economic development and convergence," Occasional Bulletin of Economic Notes 11039, South African Reserve Bank.
    • Handle: RePEc:rbz:oboens:11039
    as

    Download full text from publisher

    File URL: https://www.resbank.co.za/content/dam/sarb/publications/occasional-bulletin-of-economic-notes/2022/revisiting-emerging-markets-economic-development-and-convergence-june-2022.pdf
    File Function: Revision
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbz:oboens:11039. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jessica VanWyk (email available below). General contact details of provider: https://edirc.repec.org/data/rbagvza.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.