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Economic Convergence Among Us States
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Book Synopsis Economic Convergence Among US States by : Mitchell Wahlster
Download or read book Economic Convergence Among US States written by Mitchell Wahlster and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consensus on whether economic convergence is occurring abroad or among the U.S. states remains unclear. This paper seeks to understand whether convergence has been occurring across U.S. states, as reflected in their economic growth rates. By understanding whether convergence is occurring among states, specifically among poorer states, we can make potential inferences about current economic policy. For example, given that we can understand what role convergence plays among states, this knowledge will help policy makers make informed decisions on where to invest taxpayer money. The Solow Growth Model, which is the foundation of what has come to be known as the neoclassical growth model, is the theoretical basis of this research. To test one of the implications of the Solow Growth Model, multiple regression was used to analyze U.S. state-level economic data from various sources. Variables were included within the multiple regression model to control for differences in attributes among states. Of particular relevance in the context of the Solow Growth Model is a variable that measures differences across states in the initial-period capital-per-labor ratio. An important implication of the Solow Growth Model is that (poorer) states with lower levels of this ratio will experience higher growth rates compared to (richer) states with higher starting levels of capital per labor. This theoretical result may have potential implications across the U.S. states with respect to policies intended to stimulate economic growth. This research contributes to the growing body of literature on economic convergence inside the United States by analyzing data for a more recent time period (2002-2022) and by using a different starting-point variable (capital per worker) compared to previous studies on this topic.
Book Synopsis The Next Convergence by : Michael Spence
Download or read book The Next Convergence written by Michael Spence and published by Farrar, Straus and Giroux. This book was released on 2011-05-10 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Economic Growth and Convergence by : Robert J. Barro
Download or read book Economic Growth and Convergence written by Robert J. Barro and published by . This book was released on 1994 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Growth and Income Convergence in the United States by : Marc Ivan Tomljanovich
Download or read book Economic Growth and Income Convergence in the United States written by Marc Ivan Tomljanovich and published by . This book was released on 1998 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Growth and Convergence Across the United States by : Robert J. Barro
Download or read book Economic Growth and Convergence Across the United States written by Robert J. Barro and published by . This book was released on 1990 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key economic issue is whether poor countries or regions tend to grow faster than rich ones: are there automatic forces that lead to convergence over time in levels of per capita income and product? After considering predictions of closed- and open-economy neoclassical growth theories, we examine data since 1840 from the U.S. states. We find clear evidence of convergence, but the findings can be reconciled quantitatively with neoclassical models only if diminishing returns to capital set in very slowly. The results from a broad sample of countries are similar if we hold constant a set of variables that proxy for differences in steady-state characteristics. Two types of existing theories seem to fit the facts: the neoclassical growth model with broadly-defined capital and a limited role for diminishing returns, and endogenous growth models with constant returns and gradual diffusion of technology across economies.
Book Synopsis Economic Growth in the American States by : Shekhar Mehta
Download or read book Economic Growth in the American States written by Shekhar Mehta and published by . This book was released on 1992 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Growth and Convergence by : Michał Bernardelli
Download or read book Economic Growth and Convergence written by Michał Bernardelli and published by Routledge. This book was released on 2021-06-30 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Hunger in the Contemporary World by : Amartya Sen
Download or read book Hunger in the Contemporary World written by Amartya Sen and published by . This book was released on 1997 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Convergence and the U.S. States by : Gerald Carlino
Download or read book Convergence and the U.S. States written by Gerald Carlino and published by . This book was released on 1994 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Development of Europe's Regions by : Joan Ramón Rosés
Download or read book The Economic Development of Europe's Regions written by Joan Ramón Rosés and published by Routledge. This book was released on 2018-11-06 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first quantitative description of Europe’s economic development at a regional level over the entire twentieth century. Based on a new and comprehensive set of data, it brings together a group of leading economic historians in order to describe and analyze the development of European regions, both for nation states and for Europe as a whole. This provides a new transnational perspective on Europe’s quantitative development, offering for the first time a systematic long-run analysis of national policies independent from the use of national statistical units. The new transnational dimension of data allows for the analysis of national policies in a more thorough way than ever before. The book provides a comprehensive database at the level of modern NUTS 2 regions for the period 1900–2010 in 10-year intervals, and a panoramic view of economic development both below and above the national level. It will be of great interest to economic historians, economic geographers, development economists and those with an interest in economic growth.
Book Synopsis Growth Convergence and Spillovers among Indian States by : Sanjay Kalra
Download or read book Growth Convergence and Spillovers among Indian States written by Sanjay Kalra and published by International Monetary Fund. This book was released on 2010-04-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Convergence and spillovers across countries and within countries are old, but recurrent policy concerns, and India is no exception to this rule. This paper examines convergence and spillovers across Indian states using non-stationary panel data techniques. Results on convergence among Indian states are generally found to be similar, but more nuanced, than previous studies. Generally speaking, there is evidence of divergence over the entire sample period, convergence during sub-periods corresponding to structural breaks, and club convergence. There is strong evidence of club convergence among the high- and low-income states; the evidence for middle-income states is mixed. Dynamic spillover effects among states are small.
Book Synopsis The Great Convergence by : Richard Baldwin
Download or read book The Great Convergence written by Richard Baldwin and published by Harvard University Press. This book was released on 2016-11-14 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Economist Best Book of the Year A Financial Times Best Economics Book of the Year A Fast Company “7 Books Microsoft CEO Satya Nadella Says You Need to Lead Smarter” Between 1820 and 1990, the share of world income going to today’s wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in 1900. As the renowned economist Richard Baldwin reveals, this reversal of fortune reflects a new age of globalization that is drastically different from the old. The nature of globalization has changed, but our thinking about it has not. Baldwin argues that the New Globalization is driven by knowledge crossing borders, not just goods. That is why its impact is more sudden, more individual, more unpredictable, and more uncontrollable than before—which presents developed nations with unprecedented challenges as they struggle to maintain reliable growth and social cohesion. It is the driving force behind what Baldwin calls “The Great Convergence,” as Asian economies catch up with the West. “In this brilliant book, Baldwin has succeeded in saying something both new and true about globalization.” —Martin Wolf, Financial Times “A very powerful description of the newest phase of globalization.” —Larry Summers, former U.S. Secretary of the Treasury “An essential book for understanding how modern trade works via global supply chains. An antidote to the protectionist nonsense being peddled by some politicians today.” —The Economist “[An] indispensable guide to understanding how globalization has got us here and where it is likely to take us next.” —Alan Beattie, Financial Times
Book Synopsis The Predator State by : James Galbraith
Download or read book The Predator State written by James Galbraith and published by Simon and Schuster. This book was released on 2008-08-05 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: A progressive economist challenges popular conservative-minded economic practices, in a scathing critique of Reagan-Bush policies that contends that the political right is misrepresenting the consequences of free-market and free-trade ideals. 50,000 first printing.
Book Synopsis Growth and Convergence in Metropolitan America by : Janet Rothenberg Pack
Download or read book Growth and Convergence in Metropolitan America written by Janet Rothenberg Pack and published by Brookings Institution Press. This book was released on 2004-05-13 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the suburbs of most metropolitan areas are wealthier than their urban counterparts, rapid regional growth can improve the welfare of both city and suburb, according to a new book from Janet Rothenberg Pack. In Growth and Convergence in Metropolitan America, Pack identifies growth trends that have contributed to the convergence of welfare among regions. Pack analyzes demographic, social, and economic data from 277 metropolitan areas in the northeastern, midwestern, southern, and western United States between 1960 and 1990. Her analysis reveals a strong connection between regional growth and improved socioeconomic vitality. She finds little connection between population growth—the focus of many previous studies—and well-being, but a strong connection between per capita income growth and well-being. Moreover, there has been a major change in the factors associated with economic growth between the 1970s and 1980s. In the latter decade, the importance of an educated labor force and major universities have assumed major importance. This appears likely to have continued to be true in the 1990s. While current urban policy has focused on intra-metropolitan cooperation as the key to improving conditions in declining or slow-growing urban areas, Pack's analysis emphasizes the major differences among the larger regions of the country—both their cities and suburbs. From this perspective, national policies, both macro-economic policy and the progressive income tax, appear to be the most effective influences promoting regional convergence and improving the socio-economic well-being of both city and suburban residents.
Book Synopsis Short Run Dynamics of Income Disparities Across U.S. States by : Hasan Engin Duran
Download or read book Short Run Dynamics of Income Disparities Across U.S. States written by Hasan Engin Duran and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since early 90s, the issue of income convergence across regions has been widely discussed in a number of papers, both looking at long-term tendencies and trying to establish the role played by several socio-economic determinants. Much less attention has instead been devoted to the analysis of short-run convergence dynamics and the relationship with national business cycle. In the few papers that tackle this issue it is generally found that income disparities follow a pro-cyclical pattern, increasing during times of national expansions and decreasing in recessions. However, two important aspects have not yet been adequately studied in this specific area of research. First, is the relationship between national business cycle and regional income disparities linear or, rather, nonlinear. Second, what are the mechanisms and economic reasons behind the cyclical evolution of regional income disparities? And, more specifically, is the cyclical evolution a consequence of difference in the timing with which the business cycle is felt in regional economies or, alternatively, is it mainly motivated by the presence of size differences across local cyclical swings. In the present paper, we investigate the above issues using a combination of established and newly developed nonparametric tools applied to data on the states of US between 1969 and 2008.
Book Synopsis Old and New Perspectives on Mortality Forecasting by : Tommy Bengtsson
Download or read book Old and New Perspectives on Mortality Forecasting written by Tommy Bengtsson and published by Springer. This book was released on 2019-03-28 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book describes methods of mortality forecasting and discusses possible improvements. It contains a selection of previously unpublished and published papers, which together provide a state-of-the-art overview of statistical approaches as well as behavioural and biological perspectives. The different parts of the book provide discussions of current practice, probabilistic forecasting, the linearity in the increase of life expectancy, causes of death, and the role of cohort factors. The key question in the book is whether it is possible to project future mortality accurately, and if so, what is the best approach. This makes the book a valuable read to demographers, pension planners, actuaries, and all those interested and/or working in modelling and forecasting mortality.
Book Synopsis Handbook of Regional and Urban Economics by : V. Henderson
Download or read book Handbook of Regional and Urban Economics written by V. Henderson and published by Elsevier. This book was released on 2004-07-21 with total page 1081 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new Handbook of Regional and Urban Economics: Cities and Geography reviews, synthesizes and extends the key developments in urban and regional economics and their strong connection to other recent developments in modern economics. Of particular interest is the development of the new economic geography and its incorporation along with innovations in industrial organization, endogenous growth, network theory and applied econometrics into urban and regional economics. The chapters cover theoretical developments concerning the forces of agglomeration, the nature of neighborhoods and human capital externalities, the foundations of systems of cities, the development of local political institutions, regional agglomerations and regional growth. Such massive progress in understanding the theory behind urban and regional phenomenon is consistent with on-going progress in the field since the late 1960’s. What is unprecedented are the developments on the empirical side: the development of a wide body of knowledge concerning the nature of urban externalities, city size distributions, urban sprawl, urban and regional trade, and regional convergence, as well as a body of knowledge on specific regions of the world—Europe, Asia and North America, both current and historical. The Handbook is a key reference piece for anyone wishing to understand the developments in the field.
