Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/66012 
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dc.contributor.authorVollmer, Sebastianen
dc.contributor.authorHolzmann, Hajoen
dc.contributor.authorWeisbrod, Julianen
dc.date.accessioned2011-03-25-
dc.date.accessioned2012-11-06T15:27:09Z-
dc.date.available2012-11-06T15:27:09Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/66012-
dc.description.abstractWe analyze the cross-national distribution of GDP per capita and its evolution from 1970 to 2003. We argue that peaks are not a suitable measure for distinct growth regimes, because the number of peaks is not invariant under strictly monotonic transformations of the data (e.g. original vs. log scale). Instead, we model the distribution as a finite mixture, and determine its number of components (and hence of distinct growth regimes) from the data by rigorous statistical testing. We find that the distribution appears to have only two components in 1970-1975, but consists of three components from 1976 onwards. The level of GDP per capita stagnated in the poorest component, and the richest component grew much faster than the medium component. These findings empirically confirm the predictions of the unified growth theory.en
dc.language.isoengen
dc.publisher|aLeibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät |cHannoveren
dc.relation.ispartofseries|aDiskussionsbeitrag |x452en
dc.subject.jelC12en
dc.subject.jelO11en
dc.subject.jelO47en
dc.subject.jelF01en
dc.subject.ddc330en
dc.subject.keywordTwin peaksen
dc.subject.keywordeconomic growthen
dc.subject.keywordconvergenceen
dc.subject.stwSozialprodukten
dc.subject.stwWirtschaftswachstumen
dc.subject.stwEinkommensverteilungen
dc.subject.stwEntwicklungskonvergenzen
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.titlePeaks vs. components-
dc.typeWorking Paperen
dc.identifier.ppn635635267en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:han:dpaper:dp-452en

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