Glimpsing the End of Economic History? Unconditional Convergence and the Missing Middle Income Trap

Sutirtha Roy, Martin Kessler and Arvind Subramanian

Working Papers from eSocialSciences

Abstract: This paper suggests a reinterpretation of global growth—encompassing notions of unconditional convergence and the middle income trap—in the past 50 years through the lens of growth theory. Two modes of convergence are studied: a classic “Solow†model where poorer countries catch up by growing faster on average; and a new “Wilde†model where catch-up growth is interpreted as growing faster than the frontier country, the United States. These modes to both countries and people as units of analysis. There is a convergence has occurred faster and began earlier than widely believed [Working Paper 438].

Keywords: Economic History; convergence; solow; China; Brazil; countries; middle income trap; growth theory; poorer countries; Wilde model; human capital (search for similar items in EconPapers)
Date: 2016-10
Note: Institutional Papers
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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