Long-Run Convergence in Manufacturing and Innovation-Based Models

Jakob Madsen and Isfaaq Timol

No 09-10, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: Most studies of comparative productivities fail to find evidence of convergence in OECD manufacturing despite major economic growth theories predicting convergence. Using manufacturing data for 19 OECD countries over the period from 1870 to 2006 this study finds strong evidence of unconditional B-convergence as well as o-convergence. Panel data estimates suggest that the convergence has been driven by domestic R&D, international R&D spillovers and financial development as predicted by Schumpeterian growth theories

Keywords: Convergence; second-generation endogenous growth models (search for similar items in EconPapers)
JEL-codes: E13 E22 E23 O11 O3 O47 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2010-05
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Citations: View citations in EconPapers (1)

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Journal Article: Long-Run Convergence in Manufacturing and Innovation-Based Models (2011)
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