How fast do economies converge?
Article Abstract:
The conventional equation used to determine how quickly economies converge requires restrictive conditions to produce consistent results. Using a new approach that applies weak conditions, convergence rates averaged 15.50% for the forty-eight contiguous states and 5.89% for forty-eight sample countries. Conventional methods have resulted in lower convergence rates. moreover, the new approach allows for results which are consistent with the neoclassical growth theory.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
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Growth rates of per-capita income and aggregate welfare: an international comparison
Article Abstract:
An analysis of aggregate growth rates of per-capita GNP of 83 developing countries reveals that symmetric welfare function should be computed the way growth rates are computed accurately regardless of welfare weights. Performance comparisons using GNP data defined over a time series usually excludes welfare weights thus resulting in inaccurate comparisons of performance.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
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