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Author : Lei Zhou
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (541 download)
Download or read book Trade and International Convergence of Per Capita Income written by Lei Zhou and published by . This book was released on 2002 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Matthew Jon Slaughter
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (364 download)
Download or read book Per Capita Income Convergence and the Role of International Trade written by Matthew Jon Slaughter and published by . This book was released on 1997 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent literature on cross-country convergence of per capita income has largely ignored international trade. The reason might be perspective. Most convergence papers frame the analysis in a Solow world' in which countries exist independent of one another. But most international trade economists have a very different perspective of a world in which countries exchange goods, factors, and ideas. The goal of this paper is to sketch out some basic relationships between per capita income convergence and international trade. First, I briefly summarize a few interesting recent papers which have linked income convergence to trade. Their common inference is that for countries which are both somehow linked by trade and converging, trade helps cause the convergence. Second, I critique these papers in light of some simple accounting and trade theory. The key point here is that countries trading is not sufficient proof that trade helps cause per capita income convergence. Finally, I give two examples applying some of these ideas to real-world data. The basic point of the paper is that more work is needed to document carefully both the exact mechanisms by which trade helps convergence and the relative contribution of trade and non-trade factors
Author : Matthew J. Slaughter
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Trade and Per Capita Income Convergence written by Matthew J. Slaughter and published by . This book was released on 1998 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper I analyze whether international trade contributes to per capita income convergence across countries. The analysis focuses on four important post-1945 multilateral trade liberalizations. To identify trade's effect on income dispersion, in each case I use a difference-in-differences' approach which compares the convergence pattern among the liberalizing countries before and after liberalization with the convergence pattern among randomly chosen control countries before and after liberalization. My main empirical result is that trade liberalization did not trigger convergence in any of the four cases. If anything, trade seems to have caused income divergence.
Author : Dan Ben-David
Publisher : HP Books
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.F/5 ( download)
Download or read book Trade, Income Disparity and Poverty written by Dan Ben-David and published by HP Books. This book was released on 2000 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1.Trade,Income Disparaty and Poverty: An Overview.- 2.Trade,Growth and Disparaty Among Nations.-3 Trade and Poverty:Is There a Connection?
Author : Klaus Wälde
Publisher : Springer Science & Business Media
ISBN 13 : 364250034X
Total Pages : 160 pages
Book Rating : 4.6/5 (425 download)
Download or read book Convergence, Divergence and Changing Trade Patterns written by Klaus Wälde and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. Introduction and overview Until still few years ago, economic growth theory (going back to Solow, 1956; for an introduction cf. Burmeister and Dobell, 1970) predicted convergence of both growth rates and level of per capita income of economies which share identical preferences, technologies and same population growth rates, independently of initial conditions. Countries with a low capital stock grow faster than those with a higher capital stock, until, in the long-run, they all converge to a common constant growth rate. This prediction is due to the way how growth is "explained" in models of this kind. Growth of output per capita resulted, in the simplest model, from an exogenous growth oflabour productivity (see e. g. Sala-i-Martin, 1990; Grossman and Helpman, 1991a, ch. 2). Si!1ce this increase of productivity is exogenously given, the model itselfdoes not give any explanation ofits source. The prediction ofconvergence ofgrowth rates, itself, is very doubtful and observations show, that on an international level either convergence is not given at all, or that it takes a very long time. The literature of the "new" theory of growth provides a rich variety of models whose theoretical implications range from divergence to convergence and thus offers much better working tools in order to analyze real world observations. These models (starting with Romer, 1986 and Lucas, 1988) explain growth of GNP or per capita income from within the model by includingexternal effects such as a public stock ofknowledge capital (e. g.
Author : Mohsin S. Khan
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book Public and Private Investment and the Convergence of Per Capita Incomes in Developing Countries written by Mohsin S. Khan and published by International Monetary Fund. This book was released on 1993-06 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the extent to which there has been convergence in real per capita incomes across developing countries during the last two decades. In the analysis particular emphasis is placed on the separate roles played by private and public sector investment in determining both the extent and the speed of convergence. The paper also considers the importance of the stock of human capital, trade orientation, and foreign direct investment in the long-run growth process. Empirical tests are carried out for a large sample of 95 developing countries over the period 1970-90. The results provide support for the notion of differential effects of public and private investment on long-term growth, as well as for the convergence hypothesis.
Author : Das, Ramesh Chandra
Publisher : IGI Global
ISBN 13 : 1522502165
Total Pages : 647 pages
Book Rating : 4.5/5 (225 download)
Download or read book Handbook of Research on Global Indicators of Economic and Political Convergence written by Das, Ramesh Chandra and published by IGI Global. This book was released on 2016-07-27 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Gilles Dufrénot
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (837 download)
Download or read book The Slow Convergence of Per Capita Income Between the Developing Countries written by Gilles Dufrénot and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides empirical evidence that there is no absolute convergence between the GDP per capita of the developing countries since 1950. Relying upon recent econometric methodologies (nonstationary long-memory models, wavelet models and time-varying factor representation models), we show that the transition paths to long-run growth are very persistent over time and non-stationary, thereby yielding a variety of potential growth steady states (conditional convergence). Our findings do not support the idea according to which the developing countries share a common factor (such as technology) that eliminates growth divergence in the very long run. Instead, we conclude that growth is an idiosyncratic phenomenon that yields different forms of transitional economic performance: growth tragedy (some countries with an initial low level of per capita income diverge from the richest ones), growth resistance (with many countries experiencing a low speed of growth convergence), and rapid convergence. - growth convergence ; developing countries ; long memory ; wavelets ; time-varying factor models
Author : Anne O. Krueger
Publisher : International Monetary Fund
ISBN 13 : 145184493X
Total Pages : 52 pages
Book Rating : 4.4/5 (518 download)
Download or read book Trade, Growth, and Poverty written by Anne O. Krueger and published by International Monetary Fund. This book was released on 2003-02-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey of the recent literature asks: how important is trade policy for poverty reduction? We consider the effects of openness on poverty in two components: the effect of openness on average income growth, and the effect on distribution for a given growth rate. Evidence from a variety of sources (cross-country and panel growth regressions, industry and firm-level research, and case studies) supports the view that trade openness contributes greatly to growth. Moreover, trade openness does not have systematic effects on the poor beyond its effect on overall growth. Trade policy is only one of many determinants of growth and poverty reduction. Trade openness has important positive spillovers on other aspects of reform, however, so that the correlation of trade with other pro-reform policies speaks to the advantages of making openness a primary part of the reform package.
Author : Robert J. Barro
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
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:
Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464814953
Total Pages : 511 pages
Book Rating : 4.4/5 (648 download)
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Author : Abdul Abiad
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Finance and Income Convergence written by Abdul Abiad and published by International Monetary Fund. This book was released on 2007-03 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies conclude that the ongoing global financial integration may have had little or no value in advancing economic growth, especially in poor countries. Capital is often found to flow "uphill" from poor to rich countries. And, when it does flow into the less developed economies, it is negatively correlated with growth, calling into question the desirability of foreign capital. In this paper we report that Europe-including the new member states of the European Union-provides a counterexample to these global anomalies. With increasing financial integration, capital in Europe has traveled "downhill" from rich to poor countries, and has done so with gathering strength. These inflows have been associated with significant acceleration of income convergence.
Author : Timo B. Dähler
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (958 download)
Download or read book Combining Cross-country Per Capita Income Convergence with Sustained Per Capita Growth written by Timo B. Dähler and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomists generally agree on the primacy of income growth and on the undesirable effects of decreasing returns. Despite the vast research on growth policy design, little is known about trade-related policy levers, however. This thesis fills this gap using a theoretical approach. It investigates how policy can prevent running into decreasing returns, conditional on an economy's size and technology level. A Neoclassical growth model is devised and used to examine the impact of various trade-related policy levers on growth. Subsequently, a trade augmented AK model is devised and used to analyze the impact of trade policy on growth. One major nding is that underdeveloped economies can sustain growth through unilateral technology import while advanced economies can do so through bilaterally integrating capital markets. Another finding suggests that growth can deteriorate the terms of trade for medium-sized and large economies. This drags down their growth rates to the world average. Large economies can use tariffs to maintain relatively high growth rates while medium-sized economies are the relative losers in this model.
Author : Leonid Grinin
Publisher : Springer
ISBN 13 : 331917780X
Total Pages : 261 pages
Book Rating : 4.3/5 (191 download)
Download or read book Great Divergence and Great Convergence written by Leonid Grinin and published by Springer. This book was released on 2015-05-09 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new monograph provides a stimulating new take on hotly contested topics in world modernization and the globalizing economy. It begins by situating what is called the Great Divergence--the social/technological revolution that led European nations to outpace the early dominance of Asia--in historical context over centuries. This is contrasted with an equally powerful Great Convergence, the recent economic and technological expansion taking place in Third World nations and characterized by narrowing inequity among nations. They are seen here as two phases of an inevitable global process, centuries in the making, with the potential for both positive and negative results. This sophisticated presentation examines: Why the developing world is growing more rapidly than the developed world. How this development began occurring under the Western world's radar. How former colonies of major powers grew to drive the world's economy. Why so many Western economists have been slow to recognize the Great Convergence. The increasing risk of geopolitical instability. Why the world is likely to find itself without an absolute leader after the end of the American hegemony A work of rare scope, Great Divergence and Great Convergence gives sociologists, global economists, demographers, and global historians a deeper understanding of the broader movement of social and economic history, combined with a long view of history as it is currently being made; it also offers some thrilling forecasts for global development in the forthcoming decades.
Author : Will Martin
Publisher : Intl Food Policy Res Inst
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4./5 ( download)
Download or read book Economic growth, convergence and agricultural economics written by Will Martin and published by Intl Food Policy Res Inst. This book was released on 2019-11-26 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: After nearly two centuries of lagging behind the industrial countries, growth in many developing countries has surged since the early 1990s. This outperformance has major implications for almost all areas of agricultural economics and, if continued, will likely do so into the future. This paper aims to identify the key ways in which the changes in rich and poor country growth rates matter for agricultural economists, as a basis for formulating better research agendas. A key impact arises through sharp increases in demand for agricultural resources as demand for livestock products increases. This changing structure of food demand has important implications for nutrition studies and policies, with the emergence of a double burden of malnutrition. On the supply side, growth in developing countries tends to increase domestic food supply, which is also boosted by increases in research and development spending. Growth in developing countries both stimulates and benefits from increases in infrastructure investment, evaluation of which requires new analytical tools discussed at this conference. Negative impacts include the contribution of increased demand for livestock products to global greenhouse gas emissions. In terms of trade policy, developing country growth is tending to lead to convergence of agricultural policies with the pattern of assistance seen in today’s developed countries, raising concerns about the future need to deal with collective action problems, particularly those that increase the volatility of world prices.
Author : Michael Spence
Publisher : Macmillan + ORM
ISBN 13 : 1429968710
Total Pages : 316 pages
Book Rating : 4.4/5 (299 download)
Download or read book The Next Convergence written by Michael Spence and published by Macmillan + ORM. This book was released on 2011-05-10 with total page 316 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.
Author : Robert Rowthorn
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book Globalization and Economic Convergence written by Robert Rowthorn and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper offers a critical survey of a strong globalization thesis that predicts a direct link from more open trade and investment regimes to faster economic growth in developing countries and income convergence across the global economy. Its examination of recent experience suggests that while in a more open and integrated world economy both the quantity and the quality of investment are influenced by external factors the forces driving capital accumulation retain strong domestic roots and remain open to the influence of various types of policy initiative.
