Cross-Country Income Convergence Revisited
Federal Reserve Bank of St. Louis Working Paper No. 2010-021B
10 Pages Posted: 26 Jul 2010 Last revised: 30 Apr 2011
Date Written: April 26, 2011
Abstract
We reassess convergence of income and its determinants across countries using the dataset constructed by Klenow and Rodriguez-Clare (2005) and our updated version of the same data. Consistent with the literature, the ergodic distribution of output per worker features separate convergence clubs. In contrast to previous findings, productivity in the long run is unimodal. The long-run distribution of human capital is multimodal.
Keywords: Convergence, Development Accounting
JEL Classification: O40, O47
Suggested Citation: Suggested Citation
Barseghyan, Levon and DiCecio, Riccardo, Cross-Country Income Convergence Revisited (April 26, 2011). Federal Reserve Bank of St. Louis Working Paper No. 2010-021B, Available at SSRN: https://ssrn.com/abstract=1648857 or http://dx.doi.org/10.2139/ssrn.1648857
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