ENGLISH

Convergence Clubs in Labor Productivity and its Proximate Sources: Evidence from Developed and Developing Countries

By Carlos Méndez

Book information

Publisher
Springer
Year
2020
ISBN
9811586284, 9789811586286
Language
english
Format
PDF
Filesize
4 MB (3714966 bytes)
Series
SpringerBriefs in Economics)
Pages
67\72
Topic
Economy
Time added
2020-11-12 17:37:01

Description

Testing for economic convergence across countries has been a central issue in the literature of economic growth and development. This book introduces a modern framework to study the cross-country convergence dynamics in labor productivity and its proximate sources: capital accumulation and aggregate efficiency. In particular, recent convergence dynamics of developed as well as developing countries are evaluated through the lens of a non-linear dynamic factor model and a clustering algorithm for panel data. This framework allows us to examine key economic phenomena such as technological heterogeneity and multiple equilibria. In this context, the book provides a succinct review of the recent club convergence literature, a comparative view of developed and developing countries, and a tutorial on how to implement the club convergence framework in the statistical software Stata.

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