Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/186803 
Year of Publication: 
1994
Series/Report no.: 
Working Paper No. 120
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
Two fundamental issues have been ignored in the convergence debate which are addressed in this paper. First, there has been little attention paid to the development of a general model able to explain convergence a divergence. Second, in the rush to put data to a convergence hypothesis, researchers have failed to consider certain methodological procedures with respect to the treatment of capital. To remedy this problem we use an input-output approach to measure catch-up. To address the theoretical lacunae we present case studies of Portugal and Japan, two countries which by 1959 had attained the threshold level of development required to join the convergence- club , but which, for various historical (path-dependent) reasons, have diverged rapidly from each other in the period since the late 1950 s.
JEL: 
O4
F02
Document Type: 
Working Paper

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