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Long-run growth in the OECD: A test of the parallel growth paths hypothesis

John Landon-Lane () and Peter Robertson ()

Explorations in Economic History, 2009, vol. 46, issue 3, 346-355

Abstract: A prediction of a class of neoclassical growth models is that countries with similar levels of integration in the world economy will have parallel long-run growth paths. We test this hypothesis for the OECD, using estimates of long-run mean growth rates of per capita output for each country for the period 1870-2005. The results show strong evidence for unconditional [beta]-convergence only in the post-WWII period of 1951-1974. The results serve as a caution against drawing inferences regarding long-run growth patterns from this sample of countries when the time frame includes the post-WWII golden-age period.

Keywords: O33; 047; F43; Economic; growth; Convergence; Technological; change; Golden; age (search for similar items in EconPapers)
Date: 2009
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Handle: RePEc:eee:exehis:v:46:y:2009:i:3:p:346-355