Conditional Divergence in the Post-1989 Globalisation Period
Kevin Nell ()
CEF.UP Working Papers from Universidade do Porto, Faculdade de Economia do Porto
This paper shows that conditional convergence in per capita income, as a robust empirical regularity across countries, may have dissipated in the post-1989 globalisation era. There is evidence of conditional divergence over the period 1990-2016, with growth-reducing structural change emanating from greater trade openness and a slower rate of technology catch-up in developing countries identified as potential explanations. The results further show that conditional divergence can only be ceased subject to some initial, efficiency-adjusted level of educational attainment. One implication of conditional divergence is that the growth accelerations observed in many developing economies since the late-1990s may not be sustainable.
Keywords: Banking, conditional convergence; conditional divergence; education; structural change; technology catch-up. (search for similar items in EconPapers)
JEL-codes: O11 O15 O33 O47 (search for similar items in EconPapers)
Pages: 18 pages
New Economics Papers: this item is included in nep-fdg and nep-gro
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Persistent link: https://EconPapers.repec.org/RePEc:por:cetedp:1806
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