Did Globalization Drive Convergence? Identifying Cross-Country Growth Regimes in the Long Run

Forskningsoutput: TidskriftsbidragArtikel i vetenskaplig tidskrift

Standard

Did Globalization Drive Convergence? Identifying Cross-Country Growth Regimes in the Long Run. / Enflo, Kerstin; Di Vaio, Gianfranco.

I: European Economic Review, Vol. 55, Nr. 6, 2011, s. 832-844.

Forskningsoutput: TidskriftsbidragArtikel i vetenskaplig tidskrift

Harvard

APA

CBE

MLA

Vancouver

Author

RIS

TY - JOUR

T1 - Did Globalization Drive Convergence? Identifying Cross-Country Growth Regimes in the Long Run

AU - Enflo, Kerstin

AU - Di Vaio, Gianfranco

PY - 2011

Y1 - 2011

N2 - This paper is the first to apply a finite mixture model to a sample of 64 nations to endogenously analyze the cross-country growth behavior over the period 1870-2003. Results show that growth patterns were segmented in two worldwide regimes, the one characterized by convergence in per capita income, and the other by divergence. Interestingly, when three historical epochs are distinctly analyzed, in order to investigate the empirical link between globalization and convergence, the dynamics which dominated over the whole period seem to have emerged only during the post-1950 years. In contrast, the First Global Wave was marked by persistent heterogeneities.

AB - This paper is the first to apply a finite mixture model to a sample of 64 nations to endogenously analyze the cross-country growth behavior over the period 1870-2003. Results show that growth patterns were segmented in two worldwide regimes, the one characterized by convergence in per capita income, and the other by divergence. Interestingly, when three historical epochs are distinctly analyzed, in order to investigate the empirical link between globalization and convergence, the dynamics which dominated over the whole period seem to have emerged only during the post-1950 years. In contrast, the First Global Wave was marked by persistent heterogeneities.

KW - Globalization

KW - Economic growth

KW - Income convergence

KW - Mixture models

KW - Multiple regimes

U2 - 10.1016/j.euroecorev.2010.11.004

DO - 10.1016/j.euroecorev.2010.11.004

M3 - Article

VL - 55

SP - 832

EP - 844

JO - European Economic Review

T2 - European Economic Review

JF - European Economic Review

SN - 1873-572X

IS - 6

ER -