Reviewing the evidence against absolute convergence

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dc.contributor.authorChumacero, Rómulo
dc.date.accessioned2019-11-01T00:01:11Z
dc.date.available2019-11-01T00:01:11Z
dc.date.issued2002
dc.descriptionFew subjects in applied economic research have been studied as extensively as the convergence hypothesis advanced by Solow (1956) and documented by Baumol (1986). In simple terms, the hypothesis states that poor countries or regions tend to grow faster than rich ones. In its strongest version (known as absolute convergence), the hypothesis implies that in the long run, countries or regions should not only grow at the same rate, but also reach the same per capita income. This hypothesis has been tested using different methodologies and datasets, and it appears to be strongly rejected by the data. In view of these results, several modifications of the absolute convergence hypothesis have been advanced and tested, although they usually lack both theoretical foundations and econometric rigor and discipline.
dc.file.nameBCCh-sbc-v06-p115_134
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 115-133
dc.identifier.isbn956-7421-137
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3682
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking, Analysis, and Economic Policies, no. 6
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectCONVERGENCIA (ECONOMÍA)es_ES
dc.subjectDESARROLLO ECONÓMICOes_ES
dc.titleReviewing the evidence against absolute convergence
dc.type.docArtículo

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