The cross-country convergence hypothesis is one of the central topics of long-run macroeconomics. This paper revisits this hypothesis in a context beyond GDP. It uses a novel welfare index that incorporates measures of consumption, leisure, life expectancy, and inequality. Based on a sample of...

1 Introduction -- 2 The Data: Productivity and Capital Differences across Countries and over Time -- 3 Two Complementary Frameworks to Study Convergence Clubs -- 4 Convergence Clubs in Labor Productivity -- 5 Convergence Clubs in Physical and Human Capital -- 6 Convergence Clubs in Total Factor...

The report finds evidence that international trade agreements have the potential to act as the exogenous factor breaking the vicious circle of corruption in economies based on privileged connections rather than fair competition. International free trade agreements exert a positive influence by...

The report finds evidence that international trade agreements have the potential to act as the exogenous factor breaking the vicious circle of corruption in economies based on privileged connections rather than fair competition. International free trade agreements exert a positive influence by...

Since the start of the global financial crisis, per-capita income growth has stagnated in many advanced economies. Some scholars have interpreted the lack of growth as a temporary phenomenon caused by the legacy of the crisis. Others view the lower long-term growth as a consequence of an...

One of the most politically-sensitive aspects of the current 'Brexit' negotiations is the issue of the border between Northern Ireland and Ireland. In many respects, the Irish border is unique, with some 200 possible crossing points along the 500km border. Managing such a porous border in the...

One of the most politically-sensitive aspects of the current 'Brexit' negotiations is the issue of the border between Northern Ireland and Ireland. In many respects, the Irish border is unique, with some 200 possible crossing points along the 500km border. Managing such a porous border in the...