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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Convergence Clubs in Labor Productivity and Its Proximate Sources: Evidence from Developed and Developing Countries

Convergence Clubs in Labor Productivity and Its Proximate Sources: Evidence from Developed and Developing Countries

Mendez, Carlos

Paperback

Series: Springerbriefs in Economics

EconomicsApplications

ISBN10: 9811586284
ISBN13: 9789811586286
Publisher: Springer Nature
Published: Nov 6 2020
Pages: 67
Weight: 0.27
Height: 0.17 Width: 6.14 Depth: 9.21
Language: English

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.

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