GROWTH AND CONVERGENCE: A SOCIAL WELFARE FRAMEWORK

Quentin Wodon and Shlomo Yitzhaki

Review of Income and Wealth, 2005, vol. 51, issue 3, 443-454

Abstract: This paper proposes a social welfare framework in which to analyze the relationships between growth, trends in inequality, mobility, and social welfare. An application of the framework to worldwide and regional data on per capita GDP suggests a lack of convergence at the world level, opposite trends in convergence in various regions of the world, and a fairly low level of mobility or re‐ranking between countries over time.

Date: 2005
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