Download or read book The Next Convergence written by Michael Spence and published by Macmillan + ORM. This book was released on 2011-05-10 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Washington Post Notable Nonfiction Book for 2011 With the British Industrial Revolution, part of the world's population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway through a century of high and accelerating growth in the developing world and a new convergence with the advanced countries—a trend that is set to reshape the world. Michael Spence, winner of the Nobel Prize in Economic Sciences, explains what happened to cause this dramatic shift in the prospects of the five billion people who live in developing countries. The growth rates are extraordinary, and continuing them presents unprecedented challenges in governance, international coordination, and ecological sustainability. The implications for those living in the advanced countries are great but little understood. Spence clearly and boldly describes what's at stake for all of us as he looks ahead to how the global economy will develop over the next fifty years. The Next Convergence is certain to spark a heated debate how best to move forward in the post-crisis period and reset the balance between national and international economic interests, and short-term fixes and long-term sustainability.

Download or read book Economic Growth and Convergence written by Michał Bernardelli and published by Routledge. This book was released on 2021-06-30 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many different types of convergence within economics, as well as several methods to analyse each of them. This book addresses the concept of real economic convergence or the gradual levelling-off of GDP (gross domestic product) per capita rates across economies. In addition to a detailed, holistic overview of the history and theory, the authors include a description of two modern methods of assessing the occurrence and rate of convergence, BMA-based and HMM-based, as well as the results of the empirical analysis. Readers will have access not only to the conventional econometric approach of β convergence but also to an alternative one, allowing for the convergence issue to be expressed in the context of automatic pattern recognition. This approach is universal as it can be adapted to a variety of input data. The lowest aggregation level study investigates regional convergence through the case of Polish voivodships, where convergence towards the leader is tested. On a higher level of aggregation, the authors examine the existence of GDP convergence in such groups as the EU28, North Africa and the Middle East, sub-Saharan Africa, South America, Caribbean, South-East Asia, Australia and Oceania, or post-socialist countries. For each group, the real β convergence is tested using the two above-mentioned approaches. The results are widely discussed, broadly illustrated, interpreted, and compared. The analysis allows readers to draw interesting conclusions about the causes of convergence or the drivers behind divergence. The book will stimulate further research in the field, but the research was conducted from the point of view of individual countries.

Download or read book Economic Growth and Convergence written by Robert J. Barro and published by . This book was released on 1994 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book OECD Compendium of Productivity Indicators 2019 written by OECD and published by OECD Publishing. This book was released on 2019-04-29 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries.

Download or read book Economic Growth and Convergence written by Michał Bernardelli and published by Routledge. This book was released on 2021-06-30 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many different types of convergence within economics, as well as several methods to analyse each of them. This book addresses the concept of real economic convergence or the gradual levelling-off of GDP (gross domestic product) per capita rates across economies. In addition to a detailed, holistic overview of the history and theory, the authors include a description of two modern methods of assessing the occurrence and rate of convergence, BMA-based and HMM-based, as well as the results of the empirical analysis. Readers will have access not only to the conventional econometric approach of β convergence but also to an alternative one, allowing for the convergence issue to be expressed in the context of automatic pattern recognition. This approach is universal as it can be adapted to a variety of input data. The lowest aggregation level study investigates regional convergence through the case of Polish voivodships, where convergence towards the leader is tested. On a higher level of aggregation, the authors examine the existence of GDP convergence in such groups as the EU28, North Africa and the Middle East, sub-Saharan Africa, South America, Caribbean, South-East Asia, Australia and Oceania, or post-socialist countries. For each group, the real β convergence is tested using the two above-mentioned approaches. The results are widely discussed, broadly illustrated, interpreted, and compared. The analysis allows readers to draw interesting conclusions about the causes of convergence or the drivers behind divergence. The book will stimulate further research in the field, but the research was conducted from the point of view of individual countries.

Download or read book Hunger in the Contemporary World written by Amartya Sen and published by . This book was released on 1997 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Convergence Among US States written by Mitchell Wahlster and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consensus on whether economic convergence is occurring abroad or among the U.S. states remains unclear. This paper seeks to understand whether convergence has been occurring across U.S. states, as reflected in their economic growth rates. By understanding whether convergence is occurring among states, specifically among poorer states, we can make potential inferences about current economic policy. For example, given that we can understand what role convergence plays among states, this knowledge will help policy makers make informed decisions on where to invest taxpayer money. The Solow Growth Model, which is the foundation of what has come to be known as the neoclassical growth model, is the theoretical basis of this research. To test one of the implications of the Solow Growth Model, multiple regression was used to analyze U.S. state-level economic data from various sources. Variables were included within the multiple regression model to control for differences in attributes among states. Of particular relevance in the context of the Solow Growth Model is a variable that measures differences across states in the initial-period capital-per-labor ratio. An important implication of the Solow Growth Model is that (poorer) states with lower levels of this ratio will experience higher growth rates compared to (richer) states with higher starting levels of capital per labor. This theoretical result may have potential implications across the U.S. states with respect to policies intended to stimulate economic growth. This research contributes to the growing body of literature on economic convergence inside the United States by analyzing data for a more recent time period (2002-2022) and by using a different starting-point variable (capital per worker) compared to previous studies on this topic.

Download or read book Economic Convergence and Economic Policies written by Jeffrey Sachs and published by . This book was released on 1995 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the crucial debates in development economics are encapsulated in the question of economic convergence. Is there a tendency for the poorer countries to grow more rapidly than the richer countries, and thereby to converge in living standards? Some recent research on endogenous growth has emphasized increasing returns as a possible reason not to expect convergence. Other research has suggested that convergence may be achieved only after poor countries attain a threshold level of income or human capital. This paper presents evidence that a sufficient condition for higher-than-average growth of poorer countries, and therefore convergence, is that poorer countries follow reasonably efficient economic policies, mainly open trade and protection of private property rights.

Download or read book Convergence Divergence and Changing Trade Patterns written by Klaus Wälde and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. Introduction and overview Until still few years ago, economic growth theory (going back to Solow, 1956; for an introduction cf. Burmeister and Dobell, 1970) predicted convergence of both growth rates and level of per capita income of economies which share identical preferences, technologies and same population growth rates, independently of initial conditions. Countries with a low capital stock grow faster than those with a higher capital stock, until, in the long-run, they all converge to a common constant growth rate. This prediction is due to the way how growth is "explained" in models of this kind. Growth of output per capita resulted, in the simplest model, from an exogenous growth oflabour productivity (see e. g. Sala-i-Martin, 1990; Grossman and Helpman, 1991a, ch. 2). Si!1ce this increase of productivity is exogenously given, the model itselfdoes not give any explanation ofits source. The prediction ofconvergence ofgrowth rates, itself, is very doubtful and observations show, that on an international level either convergence is not given at all, or that it takes a very long time. The literature of the "new" theory of growth provides a rich variety of models whose theoretical implications range from divergence to convergence and thus offers much better working tools in order to analyze real world observations. These models (starting with Romer, 1986 and Lucas, 1988) explain growth of GNP or per capita income from within the model by includingexternal effects such as a public stock ofknowledge capital (e. g.

Download or read book Metropolitan Income Growth and Convergence written by Roberto J. Cavazos and published by Routledge. This book was released on 2017-07-12 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2001. What determines urban growth? Much has been written on particular causes and incidents which can explain the rise of one metropolis and the fall of another, but these do not illustrate general tendencies. This volume asks whether theories used to explain economic growth of nations or regions can be employed to find characteristics which encourage the growth of cities. Cavazos tests two principal theoretical approaches in this way. The first, the endogenous growth theory, predicts that incomes will diverge and sees technological innovations as the engine of economic growth. The second, the neoclassical growth theory, predicts conditional convergence and rates capital accumulation as the key to economic growth. He uses the two models to study US metropolitan income growth between 1970 and 1990 and compares their performance to determine which provides more insightful explanations of metropolitan growth.

Download or read book A Test of the International Convergence Hypothesis Using Panel Data written by Norman Loayza and published by World Bank Publications. This book was released on 1994 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Convergence Economics written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-10 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Convergence Economics The idea of convergence in economics is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies. In the Solow-Swan growth model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is the "steady state" is reached, where output, consumption and capital are constant. The model predicts more rapid growth when the level of physical capital per capita is low, something often referred to as “catch up” growth. As a result, all economies should eventually converge in terms of per capita income. Developing countries have the potential to grow at a faster rate than developed countries because diminishing returns are not as strong as in capital-rich countries. Furthermore, poorer countries can replicate the production methods, technologies, and institutions of developed countries. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Convergence (economics) Chapter 2: Economic growth Chapter 3: Environmental determinism Chapter 4: Development economics Chapter 5: Demographic transition Chapter 6: Simon Kuznets Chapter 7: Endogenous growth theory Chapter 8: Productivity Chapter 9: Malthusianism Chapter 10: Overlapping generations model Chapter 11: Heckscher-Ohlin model Chapter 12: International economics Chapter 13: Solow residual Chapter 14: Solow-Swan model Chapter 15: Stanley Engerman Chapter 16: Flying geese paradigm Chapter 17: Great Divergence Chapter 18: Moses Abramovitz Chapter 19: Kenneth Sokoloff Chapter 20: Oded Galor Chapter 21: Galor-Zeira model (II) Answering the public top questions about convergence economics. (III) Real world examples for the usage of convergence economics in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Convergence Economics.

Download or read book Economic Growth and Convergence Applied Especially to China written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Convergence Hypothesis written by Fernando Orozco Ruiz and published by . This book was released on 1994 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Convergence of Economic Growth Rates written by Douglas Anthony Rhoades and published by . This book was released on 1998 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Convergence Across Countries and Regions written by Angel de la Fuente and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Growth Slowdowns and the Middle Income Trap written by Mr.Shekhar Aiyar and published by International Monetary Fund. This book was released on 2013-03-20 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “middle-income trap” is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified as large sudden and sustained deviations from the growth path predicted by a basic conditional convergence framework. We then examine their determinants by means of probit regressions, looking into the role of institutions, demography, infrastructure, the macroeconomic environment, output structure and trade structure. Two variants of Bayesian Model Averaging are used as robustness checks. The results—including some that indeed speak to the special status of middle-income countries—are then used to derive policy implications, with a particular focus on Asian economies.