Drivers of unconditional income convergence

Nader AlKathiri

Economics Letters, 2024, vol. 234, issue C

Abstract: We decompose economic growth into technical efficiency change, technological change, and capital accumulation to analyze the drivers of unconditional income convergence across countries observed in recent decades. Our analysis suggests that technical efficiency improvement and capital accumulation are the main drivers of the observed unconditional convergence. Specifically, developing countries experienced faster efficiency improvement than developed countries in the period of unconditional convergence (1995–2019), which was not the case in the preceding period characterized by the lack of income convergence (1970–1995).

Keywords: Economic growth; Income convergence; Income divergence; Production frontier; Technological change (search for similar items in EconPapers)
JEL-codes: C14 O4 O5 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:234:y:2024:i:c:s0165176523005025

DOI: 10.1016/j.econlet.2023.111476

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