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dc.contributor.authorDufrénot, Gillesen_US
dc.contributor.authorMignon, Valérieen_US
dc.contributor.authorNaccache, Théoen_US
dc.date.accessioned2010-08-19en_US
dc.date.accessioned2012-10-24T12:00:34Z-
dc.date.available2012-10-24T12:00:34Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/65423-
dc.description.abstractThis paper provides empirical evidence that there is no absolute convergence between the GDP per capita of the developing countries since 1950. Relying upon recent econometric methodologies (nonstationary long-memory models, wavelet models and time-varying factor representation models), we show that the transition paths to long-run growth are very persistent over time and non-stationary, thereby yielding a variety of potential growth steady states (conditional convergence). Our findings do not support the idea according to which the developing countries share a common factor (such as technology) that eliminates growth divergence in the very long run. Instead, we conclude that growth is an idiosyncratic phenomenon that yields different forms of transitional economic performance: growth tragedy (some countries with an initial low level of per capita income diverge from the richest ones), growth resistance (with many countries experiencing a low speed of growth convergence), and rapid convergence.en_US
dc.language.isoengen_US
dc.publisherCentre for Research in Economic Development and International Trade, Univ. of Nottingham Nottinghamen_US
dc.relation.ispartofseriesCREDIT Research Paper 09/03en_US
dc.subject.jelC32en_US
dc.subject.jelE10en_US
dc.subject.jelO41en_US
dc.subject.ddc330en_US
dc.subject.keywordgrowth convergenceen_US
dc.subject.keyworddeveloping countriesen_US
dc.subject.keywordlong memoryen_US
dc.subject.keywordwaveletsen_US
dc.subject.keywordtime-varying factor modelsen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwEntwicklungen_US
dc.subject.stwSozialprodukten_US
dc.subject.stwEntwicklungskonvergenzen_US
dc.subject.stwWachstumstheorieen_US
dc.subject.stwEntwicklungsländeren_US
dc.titleThe slow convergence of per capita income between the developing countries: "growth resistance" and sometimes "growth tragedy"en_US
dc.typeWorking Paperen_US
dc.identifier.ppn607314206en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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