CAN TRANSITION DYNAMICS EXPLAIN THE INTERNATIONAL OUTPUT DATA?

Chris Papageorgiou () and Fidel Perez Sebastian

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: This paper studies the transition dynamics predictions of an R&D-based growth model, and evaluates their performance in explaining income disparities across nations. We find that the fraction of the observed cross-country income variation explained by the transitional dynamics of the model is as large as the one accounted by existing steady-state level regressions. Our results suggest that the traditional view of a world in which nations move along their distinct balanced-growth paths is as likely as the one in which countries move along adjustment paths toward a common (very long-run) steady state.

Keywords: Transition Dynamics; Income Disparities; Growth. (search for similar items in EconPapers)
Pages: 25 pages
Date: 2001-01
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Published by Ivie

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http://www.ivie.es/downloads/docs/wpasad/wpasad-2001-02.pdf Fisrt version / Primera version, 2001 (application/pdf)

Related works:
Journal Article: CAN TRANSITION DYNAMICS EXPLAIN THE INTERNATIONAL OUTPUT DATA? (2004)
Working Paper: Can Transition Dynamics Explain the International Output Data? (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:2001-02

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