Convergence Economics

Author : Michael Spence
Publisher : Farrar, Straus and Giroux
Page : 320 pages
File Size : 51,9 Mb
Release : 2011-05-10
Category : Business & Economics
ISBN : 9781429968713

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The Next Convergence by Michael Spence Pdf

A Washington Post Notable Nonfiction Book for 2011 With the British Industrial Revolution, part of the world's population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway through a century of high and accelerating growth in the developing world and a new convergence with the advanced countries—a trend that is set to reshape the world. Michael Spence, winner of the Nobel Prize in Economic Sciences, explains what happened to cause this dramatic shift in the prospects of the five billion people who live in developing countries. The growth rates are extraordinary, and continuing them presents unprecedented challenges in governance, international coordination, and ecological sustainability. The implications for those living in the advanced countries are great but little understood. Spence clearly and boldly describes what's at stake for all of us as he looks ahead to how the global economy will develop over the next fifty years. The Next Convergence is certain to spark a heated debate how best to move forward in the post-crisis period and reset the balance between national and international economic interests, and short-term fixes and long-term sustainability.

Author : Martin Eichenbaum,Erik Hurst
Publisher : National Bureau of Economic Research Macroeconomics Annual
Page : 512 pages
File Size : 43,6 Mb
Release : 2022-05-17
Category : Electronic
ISBN : 0226821714

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NBER Macroeconomics Annual 2021 by Martin Eichenbaum,Erik Hurst Pdf

The NBER Macroeconomics Annual 2021 presents research-central issues in contemporary macroeconomics. Robert Hall and Marianna Kudlyak examine unemployment dynamics during economic recoveries. They present new empirical findings and explore models in which the labor market gradually draws down the stock of unemployed workers in the aftermath of a downturn. Titan Alon, Sena Coskun, Matthias Doepke, David Koll, and Michèle Tertilt analyze the relative decline in employment of women during the COVID-19 pandemic and the associated global recession. They show that increased childcare needs, which fell more heavily on women, and differences in occupations both contributed. In the case of the US, however, each of these factors account for less than 20% of the gender gap in hours worked during the pandemic. Richard Rogerson and Johanna Wallenius study the employment rates of older workers in OECD countries over the last forty years. An expansion of institutions incentivizing retirement, concurrent with negative aggregate shocks between 1970 and 1995, led to falling employment rates. This trend started to reverse in the mid-1990s when many of these institutions, such as public pension programs, were cut back. Michael Barnett, William Brock, and Lars Peter Hansen explore the consequences of risk, ambiguity, and model misspecification in climate policy design. They consider carbon emissions pricing and the effects of different sources of uncertainty--such as future information about environmental damage, uncertainties in carbon and temperature dynamics and damage functions, and the role of future green technologies--on policy design. Michael Kremer, Jack Willis, and Yang You present new evidence suggesting a steady trend toward income convergence across countries since the late 1980s. They find convergence in various determinants of economic growth across countries and a flattening of the relationship between growth and these determinants. The paper challenges theories of growth arising after earlier rejections of the neoclassical growth model.

Author : Michał Bernardelli,Mariusz Próchniak,Bartosz Witkowski
Publisher : Routledge
Page : 164 pages
File Size : 49,5 Mb
Release : 2021-06-30
Category : Business & Economics
ISBN : 9781000407235

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Economic Growth and Convergence by Michał Bernardelli,Mariusz Próchniak,Bartosz Witkowski Pdf

There are many different types of convergence within economics, as well as several methods to analyse each of them. This book addresses the concept of real economic convergence or the gradual levelling-off of GDP (gross domestic product) per capita rates across economies. In addition to a detailed, holistic overview of the history and theory, the authors include a description of two modern methods of assessing the occurrence and rate of convergence, BMA-based and HMM-based, as well as the results of the empirical analysis. Readers will have access not only to the conventional econometric approach of β convergence but also to an alternative one, allowing for the convergence issue to be expressed in the context of automatic pattern recognition. This approach is universal as it can be adapted to a variety of input data. The lowest aggregation level study investigates regional convergence through the case of Polish voivodships, where convergence towards the leader is tested. On a higher level of aggregation, the authors examine the existence of GDP convergence in such groups as the EU28, North Africa and the Middle East, sub-Saharan Africa, South America, Caribbean, South-East Asia, Australia and Oceania, or post-socialist countries. For each group, the real β convergence is tested using the two above-mentioned approaches. The results are widely discussed, broadly illustrated, interpreted, and compared. The analysis allows readers to draw interesting conclusions about the causes of convergence or the drivers behind divergence. The book will stimulate further research in the field, but the research was conducted from the point of view of individual countries.

Author : Michał Bernardelli,Mariusz Próchniak,Bartosz Witkowski
Publisher : Routledge
Page : 196 pages
File Size : 43,7 Mb
Release : 2021-06-30
Category : Business & Economics
ISBN : 9781000407198

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Economic Growth and Convergence by Michał Bernardelli,Mariusz Próchniak,Bartosz Witkowski Pdf

There are many different types of convergence within economics, as well as several methods to analyse each of them. This book addresses the concept of real economic convergence or the gradual levelling-off of GDP (gross domestic product) per capita rates across economies. In addition to a detailed, holistic overview of the history and theory, the authors include a description of two modern methods of assessing the occurrence and rate of convergence, BMA-based and HMM-based, as well as the results of the empirical analysis. Readers will have access not only to the conventional econometric approach of β convergence but also to an alternative one, allowing for the convergence issue to be expressed in the context of automatic pattern recognition. This approach is universal as it can be adapted to a variety of input data. The lowest aggregation level study investigates regional convergence through the case of Polish voivodships, where convergence towards the leader is tested. On a higher level of aggregation, the authors examine the existence of GDP convergence in such groups as the EU28, North Africa and the Middle East, sub-Saharan Africa, South America, Caribbean, South-East Asia, Australia and Oceania, or post-socialist countries. For each group, the real β convergence is tested using the two above-mentioned approaches. The results are widely discussed, broadly illustrated, interpreted, and compared. The analysis allows readers to draw interesting conclusions about the causes of convergence or the drivers behind divergence. The book will stimulate further research in the field, but the research was conducted from the point of view of individual countries.

Author : Richard Baldwin
Publisher : Harvard University Press
Page : 340 pages
File Size : 44,6 Mb
Release : 2016-11-14
Category : Business & Economics
ISBN : 9780674660489

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The Great Convergence by Richard Baldwin Pdf

From 1820 to 1990 the share of world income going to today’s wealthy nations soared from 20% to 70%. That share has recently plummeted. Richard Baldwin shows how the combination of high tech with low wages propelled industrialization in developing nations, deindustrialization in developed nations, and a commodity supercycle that is petering out.

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
Page : 320 pages
File Size : 40,5 Mb
Release : 2024-03-10
Category : Business & Economics
ISBN : PKEY:6610000538614

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Convergence Economics by Fouad Sabry Pdf

What is Convergence Economics The idea of convergence in economics is the hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies. In the Solow-Swan growth model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is the "steady state" is reached, where output, consumption and capital are constant. The model predicts more rapid growth when the level of physical capital per capita is low, something often referred to as “catch up” growth. As a result, all economies should eventually converge in terms of per capita income. Developing countries have the potential to grow at a faster rate than developed countries because diminishing returns are not as strong as in capital-rich countries. Furthermore, poorer countries can replicate the production methods, technologies, and institutions of developed countries. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Convergence (economics) Chapter 2: Economic growth Chapter 3: Environmental determinism Chapter 4: Development economics Chapter 5: Demographic transition Chapter 6: Simon Kuznets Chapter 7: Endogenous growth theory Chapter 8: Productivity Chapter 9: Malthusianism Chapter 10: Overlapping generations model Chapter 11: Heckscher-Ohlin model Chapter 12: International economics Chapter 13: Solow residual Chapter 14: Solow-Swan model Chapter 15: Stanley Engerman Chapter 16: Flying geese paradigm Chapter 17: Great Divergence Chapter 18: Moses Abramovitz Chapter 19: Kenneth Sokoloff Chapter 20: Oded Galor Chapter 21: Galor-Zeira model (II) Answering the public top questions about convergence economics. (III) Real world examples for the usage of convergence economics in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Convergence Economics.

Author : Jeffrey Sachs,Andrew M. Warner
Publisher : Unknown
Page : 52 pages
File Size : 42,7 Mb
Release : 1995
Category : Developing countries
ISBN : STANFORD:36105017007258

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Economic Convergence and Economic Policies by Jeffrey Sachs,Andrew M. Warner Pdf

Many of the crucial debates in development economics are encapsulated in the question of economic convergence. Is there a tendency for the poorer countries to grow more rapidly than the richer countries, and thereby to converge in living standards? Some recent research on endogenous growth has emphasized increasing returns as a possible reason not to expect convergence. Other research has suggested that convergence may be achieved only after poor countries attain a threshold level of income or human capital. This paper presents evidence that a sufficient condition for higher-than-average growth of poorer countries, and therefore convergence, is that poorer countries follow reasonably efficient economic policies, mainly open trade and protection of private property rights.

Author : J. Yunker
Publisher : Springer
Page : 246 pages
File Size : 54,9 Mb
Release : 2010-09-13
Category : Political Science
ISBN : 9780230112643

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The Grand Convergence by J. Yunker Pdf

This book describes, evaluates, and advocates for, sweeping changes in our global economic and political structure to ensure the prospects of global human civilization as we confront an uncertain future. It argues both for the Marshall Plan and for a limited federal world government to replace the quasi-anarchic international regime of today.

Author : William J. Baumol,Richard R. Nelson,Edward N. Wolff
Publisher : Oxford University Press, USA
Page : 356 pages
File Size : 54,5 Mb
Release : 1994
Category : Comparative economics
ISBN : 9780195083903

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Convergence of Productivity by William J. Baumol,Richard R. Nelson,Edward N. Wolff Pdf

This collection of original articles looks at the convergence hypothesis, which asserts that since the Second World War, industrial countries were growing increasingly homogeneous in terms of productivity, technology, and per capita incomes. The book examines patterns displayed by individual industries within countries as well as the aggregate economies, influences that underlie the process of convergence, and the role that convergence has played and promises to play in the future. Contributors include: Moses Abramovitz, Alice M. Amsden, Magnus Blomstrom, David Dollar, Takashi Hikino, Gregory Ingram, William Lazonick, Frank Lichtenberg, Robert E. Lipsey, Angus Maddison, Gavin Wright, and Mario Zejan.

Author : Edward N. Wolff
Publisher : Cambridge University Press
Page : 537 pages
File Size : 51,6 Mb
Release : 2014
Category : Business & Economics
ISBN : 9780521662840

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Productivity Convergence by Edward N. Wolff Pdf

This book critically reviews the most significant works that examine the sources of economic growth.

Author : Edward J. Nell,Willi Semmler
Publisher : Springer
Page : 622 pages
File Size : 41,6 Mb
Release : 1991-06-18
Category : Business & Economics
ISBN : 9781349109470

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Nicholas Kaldor and Mainstream Economics by Edward J. Nell,Willi Semmler Pdf

An examination of the role of Nicholas Kaldor within economics. Topics covered range from Kaldor's discovery of the Von Neumann input-output model, to cyclical growth in a Kaldorian model, to Nicholas Kaldor as advocate of commodity reserve currency.

Author : Carlos Mendez
Publisher : Springer Nature
Page : 72 pages
File Size : 42,9 Mb
Release : 2020-11-05
Category : Business & Economics
ISBN : 9789811586293

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Convergence Clubs in Labor Productivity and its Proximate Sources by Carlos Mendez Pdf

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.

Author : Richard Baldwin
Publisher : Harvard University Press
Page : 330 pages
File Size : 47,8 Mb
Release : 2016-11-14
Category : Business & Economics
ISBN : 9780674972681

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The Great Convergence by Richard Baldwin Pdf

From 1820 to 1990 the share of world income going to today’s wealthy nations soared from 20% to 70%. That share has recently plummeted. Richard Baldwin shows how the combination of high tech with low wages propelled industrialization in developing nations, deindustrialization in developed nations, and a commodity supercycle that is petering out.

Author : Robert J. Barro
Publisher : Unknown
Page : 40 pages
File Size : 54,9 Mb
Release : 1994
Category : Convergence (Economics)
ISBN : UCSD:31822018927889

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Economic Growth and Convergence by Robert J. Barro Pdf

Author : Das, Ramesh Chandra
Publisher : IGI Global
Page : 616 pages
File Size : 53,6 Mb
Release : 2016-07-27
Category : Business & Economics
ISBN : 9781522502166

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Handbook of Research on Global Indicators of Economic and Political Convergence by Das, Ramesh Chandra Pdf

The development of a nation can be influenced by a wide range of factors. In the modern era of globalization, under-developed countries must strive to catch up to developed nations and establish themselves in the global market. The Handbook of Research on Global Indicators of Economic and Political Convergence is a pivotal reference source for the latest scholarly research on social, political, and environmental variables that affect the ability of developing countries to reach an equal standing in the global economy. Highlighting theoretical foundations, critical analyses, and real-world perspectives, this book is ideally designed for researchers, analysts, professionals, and upper-level students interested in emerging convergence and divergence trends in modern countries.