Economic Growth and Conditional Convergence: Its Speed For Selected Regions For 1961-2001

Somesh K. Mathur
Additional contact information
Somesh K. Mathur: Lecturer-Department of Economics, Jamia Millia Islamia (Central University), New Delhi-25

Indian Economic Review, 2005, vol. 40, issue 2, pages 185-208

Abstract: The study gives the theoretical justification for the per capita growth equations using Solovian model (1956) and its factor accumulation assumptions. The different forms of the per capita growth equation is used to test for 'conditional convergence' hypotheses and also work out the speed of conditional convergence for EU, East Asian and South Asian regions together from 1961-2001. Conditional convergence is prevalent among almost all pairs of regions in our sample except East Asian and South Asian nations together. Speed of conditional convergence ranges from 0.2 % in an year to 22%. Countries that are poor relative to their own steady state do tend to grow more rapidly. It does not mean that all countries in the world are converging to the same steady state, only that they are converging to their own steady states (conditional convergence)

Keywords: Growth equation; conditional convergence; speed of conditional convergence (search for similar items in EconPapers)
JEL-codes: C6 D5 D9 (search for similar items in EconPapers)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Ordering information: This journal article can be ordered from
http://www.ierdse.org/

Access Statistics for this article

Indian Economic Review is edited by Partha Sen and Pami Dua

More articles in Indian Economic Review from Department of Economics, Delhi School of Economics
Address: Delhi 110 007
Contact information at EDIRC.
Series data maintained by Pami Dua ().