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
Financial structure convergence
TL;DR: In this article , the authors explored a specific mechanism in the evolution of financial structure, namely convergence, and found that financial structure is shown to converge across countries over time, even after controlling for macroeconomic and institutional factors, or for banking sector characteristics.
Posted Content
Export Orientation and Exchange Rate Changes: Do Firms React Differently and Why?
TL;DR: In this article, the authors examined the relationship between manufactured firms' export orientation and exchange rate in 28 developing countries and found that the effect of exchange rate on exports volume is influenced by firm size and imported inputs but not by country characteristics.
Journal ArticleDOI
Rethinking Unconditional Convergence in Manufacturing in the Age of New Technologies
Bilge Erten,Oliver Schwank +1 more
Book ChapterDOI
What Explains the Long-term Evolution of Regional Income Inequality in Spain?
TL;DR: In this article, the proximate causes of territorial inequality are analyzed and the per-capita income inequality is broken down into elements related to differences in regional labour markets and elements linked to the presence of differences in labour productivity between regions.
Sources of Growth in an Empirical Dual Economy Model
Markus Eberhardt,Francis Teal +1 more
TL;DR: In this paper, the authors investigate the barriers to struc- tural change within a flexible regression framework and investigate the features of successful economic mobility between sectors as an engine for economic growth.
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.