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Asymptotically perfect and relative convergence of productivity

โœ Scribed by Bart Hobijn; Philip Hans Franses

Publisher
John Wiley and Sons
Year
2000
Tongue
English
Weight
206 KB
Volume
15
Category
Article
ISSN
0883-7252

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โœฆ Synopsis

In this paper we examine the extent to which countries are converging in per capita productivity levels. We propose to use cluster analysis in order to allow for the endogenous selection of converging countries. We formally deยฎne convergence in a time series analytical context, derive the necessary and sucient conditions for convergence, and introduce a cluster analytical procedure that distinguishes several convergence clubs by testing for these conditions using a multivariate test for stationarity. We ยฎnd a large number of relatively small convergence clubs, which suggests that convergence might not be such a widespread phenomenon.

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