Growth escalators and growth convergence

Ejaz Ghani 17 August 2014

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The literature on global growth convergence and divergence is vast and deep. And it is still evolving. Some have argued that global growth is actually diverging across countries. Pritchett (1977) called this “divergence, big time”, whereby the living standards of a few countries pulled away from the rest in the aftermath of the industrial revolution. Others have found evidence in favour of growth convergence.

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Topics:  Development

Tags:  growth, Africa, convergence

A new look at global growth convergence and divergence

Michele Battisti, Gianfranco di Vaio, Joseph Zeira 09 January 2014

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The phenomenon of modern economic growth is fairly new. It started less than two centuries ago, but it changed our lives significantly. One of the main changes is that income gaps between countries have greatly increased. One of the main questions that concern economists who study economic growth is whether these gaps are still growing, or countries are instead converging to the same level of income. This question is empirical, but it has important theoretical implications, as our main growth theories predict convergence between countries.

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Topics:  Development Frontiers of economic research

Tags:  growth, convergence, technology transfer, divergence

Manufacturing is special

Dani Rodrik 09 November 2011

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Poor countries have access to world markets, off-the-shelf technologies developed by others, and rich countries’ savings. So in principle, they should develop rapidly – more rapidly than advanced economies, which are already at the technological frontier. Yet the historical record belies this expectation. Economic convergence depends in practice on a whole host of policy, institutional, and geographic determinants, the nature of which remains vigorously debated (Acemoglu 2009).

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Topics:  Industrial organisation Productivity and Innovation

Tags:  growth, productivity, manufacturing, convergence

Unconditional convergence

Dani Rodrik,

Date Published

Mon, 10/31/2011

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Development Industrial organisation Productivity and Innovation

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URL

http://www.cepr.org/DP8631

Vox readers can download CEPR Discussion Paper 8631 for free here. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

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productivity, convergence, technology, GDP growth, manufacturing sector

EMU has led to increased stability and convergence of financial markets in euro area

Michael Ehrmann, Marcel Fratzscher, Refet S. Gürkaynak, Eric T Swanson ,

Date Published

Mon, 09/17/2007

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EU policies Financial markets

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URL

http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=6456.asp

One desired outcome at the time when EMU was conceived was having countries with less well-anchored expectations benefit from a more credible monetary policy-making framework. The authors of DP6456 focus on the extent to which monetary union has led to the integration of financial markets across the euro area, and in particular investigate the effects of two dimensions: the unification of bond markets, and the anchoring of long-run inflation expectations.

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monetary policy, credibility, EMU, euro area, bond markets, convergence, anchoring

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