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Econometric Aspects of Convergence: A Survey

Ronald Smith

Open Economies Review, 2024, vol. 35, issue 4, No 2, 721 pages

Abstract: Abstract The literature on convergence in per-capita income across countries has not converged on a common concept of convergence. It may be within a country towards its own steady state or between countries. Between country convergence may be absolute convergence to the same steady state; conditional convergence to country specific steady states, functions of observed variables; or club convergence to different steady states. It may be measured by beta convergence; sigma convergence; or the presence of a common trend. This paper surveys the econometric issues involved in estimating the rate of convergence; testing for convergence; and specifying the unobserved steady state. The survey suggests that rather than there being different ways to measure a single concept, convergence, the different measures are measuring different things.

Keywords: Econometrics of growth; Economic convergence; Beta convergence; Sigma convergence; C1; C33; E10; F43; O4 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s11079-024-09753-w

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