The Convergence Hypothesis: History, Theory, and Evidence

Farhad Rassekh ()

Open Economies Review, 1998, vol. 9, issue 1, 85-105

Abstract: The hypothesis that per capita output converges across economies over time represents one of the oldest controversies in economics. This essay surveys the history and development of the hypothesis, focusing particularly on its vast literature since the mid-1980s. A summary of empirical analyses, econometric issues, and various tests of the convergence hypothesis are also presented. Moreover, the essay analyzes the implications of the hypothesis for economic growth, especially as it relates to underdeveloped economies. Copyright Kluwer Academic Publishers 1998

Keywords: convergence; technology transfer; neoclassical growth model; globalization; income divergence (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1023/A:1008279323832

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