ECONOMIC GROWTH AND THE EHRENFEST FLEAS: THE CONVERGENCE AMONG COUNTRIES

Luca Di Gennaro () and Ubaldo Garibaldi ()
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Luca Di Gennaro: Universitat Pompeu Fabra Departament d'Economia i Empresa, Ramon Trias Fargas, 25–27 08005 Barcelona, Spain;
Ubaldo Garibaldi: IMEM-CNR, Department of Physics, Via Dodecaneso 33, 16146, University of Genoa, Genoa, Italy

International Journal of Modern Physics C (IJMPC), 2008, vol. 19, issue 01, 33-47

Abstract: The aim of this work is to predict the economic convergence among countries by using a generalization of Ehrenfest's urn. In particular this work shows that the Ehrenfest model captures the convergence among countries. A empirical analysis is presented on the European Union countries, the G7 countries and the emerging countries.

Keywords: Markov Chain; Ehrenfest model; economic growth theory; convergence (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:ijmpcx:v:19:y:2008:i:01:n:s0129183108011929

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DOI: 10.1142/S0129183108011929

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