Convergence or confusion? A study of world economic growth (original) (raw)

This paper takes a closer look at the typical growth convergence regression of Barro (1991), Mankiw, Romer and Weil (1992), Sala-i-Martin (1996), and others. By interpreting the two components of the regression coefi¬ cient separately, i.e. the correlation coefficient and the ratio of standard deviations, we distinguish between "time-series" convergence and "cross-section" convergence, and consequently the relationship between I²âˆ’ and Iƒâˆ’convergence. And, using data from the latest Penn World Table database (version 9.1), we investigate the convergence or the lack-of-convergence in samples of countries representing the “World†, OECD and Sub-Saharan Africa. The implications of this study for the neoclassical growth model are also discussed.

Sign up for access to the world's latest research.

checkGet notified about relevant papers

checkSave papers to use in your research

checkJoin the discussion with peers

checkTrack your impact