dc.contributor.author |
Phillips, Peter |
en |
dc.contributor.author |
Sul, Donggyu |
en |
dc.date.accessioned |
2006-11-30T20:53:40Z |
en |
dc.date.available |
2006-11-30T20:53:40Z |
en |
dc.date.issued |
2003 |
en |
dc.identifier.citation |
Department of Economics Working Paper Series 251 |
en |
dc.identifier.uri |
http://hdl.handle.net/2292/197 |
en |
dc.description.abstract |
Two groups of applied econometricians have figured prominently in empirical studies
of growth convergence. In terms of a popular caricature, one group believes it has
found a black hat of convergence (evidence for growth convergence) in the dark room
of economic growth, even though the hat may not exist (the task may be futile). A
second group believes it has found a black coat of divergence (evidence against
growth convergence) even though this object also may not exist (empirical reality,
including the nature of growth divergence, is ever more complex than the models used
to characterize it). The present paper seeks to light a candle to see whether there
is a hat, a coat or another object of identifiable clothing in the room of regional
and multi-country economic growth. After our examination, we find that the candle
power of applied econometrics is too low to clearly distinguish a black hat in the
huge dark room of economic growth. However, in our theory model, we find an
important new role for heterogeneity over time and across economies in the
transitional dynamics of economic growth; and, in our empirical work, these
transitional dynamics reveal an elusive shadow of the conditional convergence hat in
both US regional and inter-country OECD growth patterns. |
en |
dc.format.extent |
application/pdf |
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dc.format.mimetype |
text |
en |
dc.language.iso |
en |
en |
dc.publisher |
ResearchSpace@Auckland |
en |
dc.relation.ispartofseries |
Department of Economics Working Paper Series (1997-2006) |
en |
dc.rights |
Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. |
en |
dc.rights.uri |
https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm |
en |
dc.subject.other |
Convergence Parameter, |
en |
dc.subject.other |
Economics |
en |
dc.title |
The Elusive Empirical Shadow of Growth Convergence |
en |
dc.type |
Working Paper |
en |
dc.rights.holder |
Copyright: the author |
en |
dc.rights.accessrights |
http://purl.org/eprint/accessRights/OpenAccess |
en |
pubs.org-id |
Economics |
en |