The 'Poorest Might Catch up': Convergence vs. Pseudo-convergence

M. H. Suryanarayana and Mousumi Das

Working Papers from eSocialSciences

Abstract: Public welfare policies in developing countries have a Rawlsian perspective; they seek to uplift the poor, the poorest of the poor in particular. Policies to enable the poor to catch up with the rich are generally two-fold, viz., inclusive growth, and redistributive (transfer) programmes. This paper proposes twin concepts and measures of convergence (κ*) and pseudo-convergence (pseudo-κ*) to characterize such outcomes. Unlike the conventional measures of convergence, they can contra-distinguish outcomes during economic growth as against decay. Illustrations based on estimates of per capita GDP and consumption across countries in the world show divergence and pseudo-divergence between 1993 and 2011. [IGIDR WP-2014-005].

Keywords: Convergence; Pseudo-convergence; Sigma-convergence; Beta-convergence; Rawls; Welfare; consumption; per capita GDP; economic growth; Public welfare policies (search for similar items in EconPapers)
Date: 2014-02
Note: Institutional Papers
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