ISSN:
1573-7020
Keywords:
growth
;
convergence clubs
;
poverty trap
;
cultural factors
;
location
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract This study investigates the sources of heterogeneity across a worldwide set of countries. Unspecified ex ante and unanticipated cultural (Protestant versus Catholic), geographical (continents), and institutional (OECD versus non-OECD) clubs emerge endogenously and naturally as homogeneous classes on the basis of their economic structure. The dynamics both within and across the identified groups of countries are consistent with multiple equilibrium-growth models proposed by, for instance, Azariadis and Drazen (1990), therefore strengthening the viability of the convergence club hypothesis. In particular, higher stages of development are, on average, non linearly associated with higher stages of growth.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1023/A:1009858603947
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