It's still 2%: evidence on convergence from 116 years of the US States panel data
A new debate over the speed of convergence in per capita income across economies is going on. Cross sectional estimates support the idea of slow convergence of about two percent per year. Panel data estimates support the idea of fast convergence of five, ten or even twenty percent per year. This paper shows that, if you ``do it right'', even the panel data estimation method yields the result of slow convergence of about two percent per year.
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| Date of creation: | Sep 1997 |
| Date of revision: | |
| Handle: | RePEc:upf:upfgen:236 |
| Contact details of provider: | Web page: http://www.econ.upf.edu/
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References listed on IDEAS
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- de la Fuente, A, 1996. "On the Sources of Convergence : A Close Look at the Spanish Regions," UFAE and IAE Working Papers 362.96, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
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