Twin Peaks: Growth and Convergence in Models of Distribution Dynamics
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ID: 296086
1996
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Abstract
Convergence concerns poor economies catching up with rich ones. At issue is what happens to the cross sectional distribution of economies, not whether a single economy tends toward its own steady state. It is the latter, however, that has preoccupied the traditional approach to convergence analysis. This paper describes a body of research that overcomes this shortcoming in the traditional approach. The new findings - on persistence and stratification; on the formation of convergence clubs; and on the distribution polarising into twin peaks of which and poor - suggest the relevance of a class of theoretical ideas, different from the production-function accounting traditionally favored.
| Reference Key |
openalex_W3021672935
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|---|---|
| Authors | Danny Quah |
| Journal | the economic journal |
| Year | 1996 |
| DOI |
10.2307/2235377
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| URL | |
| Keywords | Keywords not found |
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