SpringerBriefs in Economics: Evidence from Developed and Developing Countries

Mendez, Carlos

Testing for economic convergence across countries has been a central issue in the literature of economic growth and development. This book introduces a modern framework to study the cross-country convergence dynamics in labor productivity and its proximate sources: capital accumulation and aggregate efficiency. In particular, recent convergence dynamics of developed as well as developing countries are evaluated through the lens of a non-linear dynamic factor model and a clustering algorithm for panel data. This framework allows us to examine key economic phenomena such as technological heterogeneity and multiple equilibria. In this context, the book provides a succinct review of the recent club convergence literature, a comparative view of developed and developing countries, and a tutorial on how to implement the club convergence framework in the statistical software Stata.

Details

Published by: Springer

Publication Date: 2020-11-06

Format: Paperback

ISBN-13: 9789811586286

DOI: 10.1007/978-981-15-8629-3

Dimensions: 235cm x155cm

Pages: 67