The Conditional Convergence Properties of Simple Kaldorian Growth Models

Mark Roberts

International Review of Applied Economics, 2007, vol. 21, issue 5, 619-632

Abstract: Findings of conditional convergence are usually interpreted within a neoclassical growth framework. This follows from the methodology of testing for conditional convergence, whereby the estimating equation is explicitly derived from a neoclassical growth model. Given this explicit derivation, findings of conditional convergence might be thought to discriminate against alternative approaches to growth in general and the Kaldorian approach to growth in particular. This article shows, however, that this is not the case. It does so by examining the conditional convergence properties of the 'core' model of Kaldorian growth theory—the Kaldor-Dixon-Thirlwall (KDT) model. In particular, the paper demonstrates that this model predicts conditional convergence of a qualitatively identical nature to that predicted by the neoclassical growth model. A simple extension of the KDT model that is reconciled with quantitative estimates of the speed of conditional convergence is also presented.

Keywords: growth; convergence; Kaldor (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/02692170701474678 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:irapec:v:21:y:2007:i:5:p:619-632

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CIRA20

DOI: 10.1080/02692170701474678

Access Statistics for this article

International Review of Applied Economics is currently edited by Professor Malcolm Sawyer

More articles in International Review of Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().