[ DevCourseWeb ] Convergence Clubs in Labor Productivity and its Proximate Sources - Evidence from Developed and Developing Countries

[ DevCourseWeb.com ] Convergence Clubs in Labor Productivity and its Proximate Sources: Evidence from Developed and Developing Countries

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English | ISBN: 9811586284 | 2020 | 79 pages | EPUB, PDF | 18 MB + 4 MB
Testing for economic convergence across countries has been a central issue in the literature of economic growth and development. This book introduces a modern framework to study the cross-country convergence dynamics in labor productivity and its proximate sources: capital accumulation and aggregate efficiency. In particular, recent convergence dynamics of developed as well as developing countries are evaluated through the lens of a non-linear dynamic factor model and a clustering algorithm for panel data. This framework allows us to examine key economic phenomena such as technological heterogeneity and multiple equilibria. In this context, the book provides a succinct review of the recent club convergence literature, a comparative view of developed and developing countries, and a tutorial on how to implement the club convergence framework in the statistical software Stata.

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