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2014 | OriginalPaper | Buchkapitel

4. Convergence: Theory, Econometrics, and Empirics

verfasst von : Larissa Talmon-Gros

Erschienen in: Development Patterns of Material Productivity

Verlag: Springer International Publishing

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Abstract

This chapter presents the theoretical background, the econometrics, and some empirical evidence with regard to convergence. Section 4.1 presents the basic Solow–Swan model, the starting point for analyses of convergence as well as the convergence properties in Schumpeterian models of endogenous growth. Section 4.2 discusses the econometric methods for examining convergence applied in this analysis. Those include growth regressions, (dynamic) panel approaches in terms of fixed effects models as well as panel unit root tests (Im, Pesaran, and Shin as well as Maddala and Wu/Choi). This chapter concludes with a review of empirics of convergence of different economic variables like for instance per capita income, labor productivity, energy productivity, or CO₂ emissions.

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If initially k = 0 it will remain zero. This possibility is ignored here.

For more details on the strong version of time series convergence, see Hemmer and Lorenz (2004).

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Titel: Convergence: Theory, Econometrics, and Empirics
verfasst von: Larissa Talmon-Gros
Verlag: Springer International Publishing
Buch: Development Patterns of Material Productivity
Print ISBN: 978-3-319-02537-7

Electronic ISBN: 978-3-319-02538-4

Copyright-Jahr: 2014
DOI: https://doi.org/10.1007/978-3-319-02538-4_4

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