TITLE

The classical approach to convergence analysis

AUTHOR(S)
Sala-i-Martin, Xavier X.
PUB. DATE
July 1996
SOURCE
Economic Journal;Jul96, Vol. 106 Issue 437, p1019
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The concepts of σ-convergence, absolute β-convergence and conditional β-convergence are discussed in this paper. The concepts are applied to a variety of data sets that include a large cross-section of 110 countries, the sub-sample of OECD countries, the states within the United States, the prefectures of Japan, and regions within several European countries. Except for the large cross-section of countries, all data sets display strong evidence of σ-convergence and absolute β-convergence. The cross-section of countries exhibits σ-divergence and conditional β-convergence. The speed of conditional convergence, which is very similar across data sets, is close to 2% per year.
ACCESSION #
9703300627

 

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