Economic Transition and Growth

No 1514, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Some extensions of neoclassical growth models are discussed that allow for cross section heterogeneity among economies and evolution in rates of technological progress over time. The models offer a spectrum of transitional behavior among economies that includes convergence to a common steady state path as well as various forms of transitional divergence and convergence. Mechanisms for modeling such transitions and measuring them econometrically are developed in the paper. A new regression test of convergence is proposed, its asymptotic properties are derived and some simulations of its finite sample properties are reported. Transition curves for individual economies and subgroups of economies are estimated in a series of empirical applications of the methods to regional US data, OECD data and Penn World Table data.

Keywords: Economic growth; Growth convergence; Heterogeneity; Neoclassical growth; Relative transition; Transition curve; Transitional divergence (search for similar items in EconPapers)
JEL-codes: C33 O30 O40 (search for similar items in EconPapers)
Pages: 59 pages
Date: 2005-06
New Economics Papers: this item is included in nep-afr, nep-dev, nep-ets and nep-tra
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Published in Journal of Applied Econometrics (2009), 24(7): 1153-1185

Downloads: (external link)
https://cowles.yale.edu/sites/default/files/files/pub/d15/d1514.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: Economic transition and growth (2009)
Journal Article: Economic transition and growth (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:1514

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().