Showing 1 - 10 of 120
This paper examines the relationship between trade and income convergence by focusing on groups of countries comprising major trade partners. The majority of these groups exhibited significant convergence. Furthermore, a comparison of the trade-based groups with different, randomly selected,...
Persistent link: https://www.econbiz.de/10005497780
Many countries, both industrialized and developing, appear to have experienced a slowdown in economic growth. We examine a large sample of countries and find that a majority exhibit a significant structural break in their post-war growth rates. In nearly all of these cases the break was followed...
Persistent link: https://www.econbiz.de/10005498062
This paper builds on earlier evidence showing that, while most countries exhibit little evidence of unconditional income convergence, countries that trade heavily with one another tend to exhibit a much higher incidence of convergence. Two alternative explanations for the trade-related...
Persistent link: https://www.econbiz.de/10005791990
Recent literature has documented the sensitivity of unit root tests to failure to account for structural change. This paper reconsiders international evidence on the unit root hypothesis while allowing for two structural breaks. We find evidence of two breaks in three-quarters of the data,...
Persistent link: https://www.econbiz.de/10005792160
This paper focuses on the question of income convergence among countries. While the methodology used to determine convergence differs from the common cross-sectional approach, it corroborates Baumol's finding of a convergence club among the world's wealthiest countries. It also shows that there...
Persistent link: https://www.econbiz.de/10005136469
For decades, the prevailing sentiment among economists was that growth rates remain constant over the long run. Kaldor considered this to be one of the six important `stylized facts' that theory should address, and until the emergence of endogenous growth models, this was a fundamental feature...
Persistent link: https://www.econbiz.de/10005114489
This paper presents a simple model for analysing the contribution of investments in physical and institutional infrastructure to the transition process. In addition to the direct cost savings, infrastructure investment generates important indirect effects, or transition impacts. The model shows...
Persistent link: https://www.econbiz.de/10005667044
This study is the first to provide a systematic measure of bribery using micro-level data on reported earnings, household spending and asset holdings. We use the compensating differential framework and the estimated sectoral gap in reported earnings and expenditures to identify the size of...
Persistent link: https://www.econbiz.de/10005791634
Transition economies have an initial condition of high human capital relative to GDP per capita, giving them high growth potential. In the model, at a good equilibrium a large number of children of well-educated parents take advantage of their family backgrounds and invest substantially in their...
Persistent link: https://www.econbiz.de/10005124062
This paper examines the relationship between differences in civil society development under communism and divergence in the nature and pace of political and economic reform and transformation after 1989. We put together a unique data set on dissident activities for the 27 former centrally...
Persistent link: https://www.econbiz.de/10008468689