EconPapers    
Economics at your fingertips  
 

Convergence? Inferences from Theoretical Models

Oded Galor ()

No 1350, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This essay suggests that the convergence controversy may reflect, in part, differences in perception regarding the viable set of competing testable hypotheses generated by existing growth theories. It argues that in contrast to the prevailing wisdom, the traditional neo-classical growth paradigm generates the club convergence hypothesis as well as the conditional convergence hypothesis. Furthermore, the inclusion of empirically significant variables such as human capital, income distribution, and fertility in conventional growth models, along with capital market imperfections, externalities, and non-convexities, strengthens the viability of club convergence as a competing hypothesis with conditional convergence.

Keywords: Club Convergence; Conditional Convergence; Growth; Income Distribution; Multiple Steady-state; Overlapping-generations (search for similar items in EconPapers)
JEL-codes: O40 (search for similar items in EconPapers)
Date: 1996-02
References: Add references at CitEc
Citations: View citations in EconPapers (288) Track citations by RSS feed

Downloads: (external link)
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=1350 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Convergence? Inferences from Theoretical Models (1996) Downloads
Working Paper: Convergence?: Inferences from Theoretical Models (1996) Downloads
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:cpr:ceprdp:1350

Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=1350

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2019-11-10
Handle: RePEc:cpr:ceprdp:1350