Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5053551 | Economic Modelling | 2016 | 10 Pages |
Abstract
This article uses a nonparametric varying coefficient panel data model to study the convergence of real GDP per capita among 120 world economies for the sample period of 1980-2010. The estimates show that the indirect contribution of initial income via the control variables is important. The mediating effect of control variables to affect growth is positive. The conditional speed of convergence is larger than the absolute counterpart at all levels of initial income. The convergence hypothesis does not hold for economies with extremely low level of development. The conclusion is robust for regional subsamples of Europe, Asia, Latin America and Africa.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Kui-Wai Li, Xianbo Zhou, Zhewen Pan,