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Teaching Convergence: A Contribution

  • Federico Guerrero

    ()

    (Department of Economics, University of Nevada, Reno)

The issue of convergence has been hotly debated since the mid 1980s. Only recently certain consensus has arisen around some of the most fundamental issues. It seems hardly surprising, then, to find a large variation in how those issues are taught to undergraduates. This paper is an attempt at clarifying the different concepts of convergence, and their relation to both the neoclassical model of growth and available cross-country evidence. Evidence on some of the contradictory ways in which the issues are taught is provided, a simple way to teach the relevant concepts of convergence by means of numerical examples is presented, and relevant examples drawn from historical evidence are shown. Also, the implications of the neoclassical growth model are presented in a slightly different, but clearer way, and some of the difficulties to interpret the cross-country empirical evidence are reviewed.

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File URL: http://www.business.unr.edu/econ/wp/papers/UNRECONWP06014.pdf
File Function: First version, 2006
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Paper provided by University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics in its series Working Papers with number 06-014.

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Length: 27 pages
Date of creation: Dec 2006
Date of revision:
Handle: RePEc:unr:wpaper:06-014
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  1. repec:chb:bcchwp:03 is not listed on IDEAS
  2. Nazrul Islam, 2003. "What have We Learnt from the Convergence Debate?," Journal of Economic Surveys, Wiley Blackwell, vol. 17(3), pages 309-362, 07.
  3. Galor, Oded, 1996. "Convergence? Inferences from Theoretical Models," CEPR Discussion Papers 1350, C.E.P.R. Discussion Papers.
  4. Xavier Sala-i-Martin, 1995. "The classical approach to convergence analysis," Economics Working Papers 117, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December.
  6. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. " Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-89, September.
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