Journal ArticleDOI
Unconditional Convergence in Manufacturing
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TLDR
The authors found that manufacturing industries exhibit strong unconditional convergence in labor productivity and showed that despite strong convergence within manufacturing, aggregate convergence fails due to the small share of manufacturing employment in low-income countries and slow pace of industrialization.Abstract:
Unlike economies as a whole, manufacturing industries exhibit strong unconditional convergence in labor productivity. The article documents this at various levels of disaggregation for a large sample covering more than 100 countries over recent decades. The result is highly robust to changes in the sample and specification. The coefficient of unconditional convergence is estimated quite precisely and is large, at between 2–3% in most specifications and 2.9% a year in the baseline specification covering 118 countries. The article also finds substantial sigma convergence at the two-digit level for a smaller sample of countries. Despite strong convergence within manufacturing, aggregate convergence fails due to the small share of manufacturing employment in low-income countries and the slow pace of industrialization. Because of data coverage, these findings should be as viewed as applying to the organized, formal parts of manufacturing.read more
Citations
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Journal ArticleDOI
Implied comparative advantage
Ricardo Hausmann,Ricardo Hausmann,Daniel P. Stock,Daniel P. Stock,Muhammed A. Yildirim,Muhammed A. Yildirim +5 more
TL;DR: In this paper, the authors build a simple Ricardian-inspired model and show that hidden information on inter-industry and inter-location relatedness can be captured by simple correlations between the observed structure of industries across locations or the structure of locations across industries.
Industrialization and Structural Change: Can Sub-Saharan Africa Develop without Factories?
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Why is Serbia an economic growth underachiever
TL;DR: In this paper, the authors show that Serbia is an economic growth laggard due to deficient institutions, specifically lacking rule of law and control of corruption, and due to low investment, which itself is curbed by corruption and poor rule-of-law.
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Manufactoring, economic growth, and real exchange rate: Empirical evidence in panel data and input-output multipliers
TL;DR: In this article, the effects of manufacturing and of the real exchange rate (RER) on real per capita income growth were investigated for a diversified sample of countries from 1990 to 2011.
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Sustainable development and industrial development: Manufacturing environmental performance, technology and consumption/production perspectives
TL;DR: In this paper, the authors evaluate the drivers and decoupling trends of environmental pressures arising (directly or indirectly) from manufacturing production and consumption for a large selection of developed and developing countries.
References
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Journal ArticleDOI
Convergence across States and Regions
TL;DR: In this paper, the authors use the neoclassical growth model as a framework to study convergence across the forty-eight contiguous U.S. states using data on personal income since 1840 and on gross state product since 1963.
Posted Content
Productivity Growth, Convergence and Welfare: What the Long Run Data Show
TL;DR: Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth in productivity, GDP per capita and exports and the remarkable convergence of productivities of industrialized market economies, with convergence apparently shared by planned economies but not less developed countries as discussed by the authors.
Book
Handbook of Economic Growth
TL;DR: The Handbook of Economic Growth as discussed by the authors summarizes recent advances in theoretical and empirical work while offering new perspectives on a range of growth mechanisms, from the roles played by institutions and organizations to the ways factors beyond capital accumulation and technological change can affect growth.
Posted Content
Productivity Growth, Convergence, and Welfare: What the Long-Run Data Show
TL;DR: Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth in productivity, gross domestic product per capita and exports and the remarkable convergence of productivities of industrialized market economies, with convergence apparently shared by planned economies but not less developed countries.