Did Globalization Drive Convergence? Identifying Cross-Country Growth Regimes in the Long Run

Gianfranco Di Vaio () and Kerstin Enflo

Working Paper series from Rimini Centre for Economic Analysis

Abstract: This paper is the first to apply a finite mixture model to a sample of 64 nations to endogenously analyze the cross-country growth behavior over the period 1870-2003. Results show that growth patterns were segmented in two worldwide regimes, the one characterized by convergence in per capita income, and the other by divergence. Interestingly, when three historical epochs are distinctly analyzed, in order to investigate the empirical link between globalization and convergence, the dynamics which dominated over the whole period seem to have emerged only during the post-1950 years. In contrast, the First Global Wave was marked by persistent heterogeneities.

Keywords: Globalization; Economic growth; Income convergence; Multiple regimes; Mixture models (search for similar items in EconPapers)
JEL-codes: C52 N10 O47 (search for similar items in EconPapers)
Date: 2010-01
New Economics Papers: this item is included in nep-fdg and nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Did globalization drive convergence? Identifying cross-country growth regimes in the long run (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:rim:rimwps:30_10

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