Sutton, Bennett; Lindow, Genevieve; Serra, Maria Isabel; … - International Monetary Fund (IMF) - 2006
This paper presents empirical evidence on convergence of per capita output for regions within six large middle … country converged at very low rates over the past three decades. It also finds evidence of regional "convergence clubs" within … Brazil and Peru- the estimated speeds of convergence for these countries more than double after controlling for different …