Local versus global convergence across national economies
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Local versus global convergence across national economies

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Published by LSE Financial Markets Group in London .
Written in English


Book details:

Edition Notes

Statementby Steven N. Durlauf and Paul A. Johnson.
SeriesLSE Financial Markets Group discussion paper Series -- no.131
ContributionsJohnson, Paul A.
ID Numbers
Open LibraryOL13806273M

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Get this from a library! Local versus global convergence across national economies. [Steven N Durlauf; Paul Johnson; National Bureau of Economic Research.]. Downloadable! This paper reexamines the ability of the Solow-type growth models to explain the pattern of cross-country growth rates. Recent authors, most notably Mankiw, Romer and Weil [], have argued that differences in national growth rates are compatible with the view that each country has access to a common, neoclassical aggregate production function. LOCAL VERSUS GLOBAL CONVERGENCE ACROSS NATIONAL ECONOMIES ABSTRACT This paper reexamines the ability of the Solow-type growth models to explain the pattern of cross-country growth rates. Recent authors, most notably Mankiw. Romer and Weil [], have argued that differences in national growth rates are compatible with the. Get this from a library! Local versus global convergence across national economies. [Steven N Durlauf; Paul Johnson; National Bureau of Economic Research.] -- Abstract: This paper reexamines the ability of the Solow-type growth models to explain the pattern of cross-country growth rates. Recent authors, most notably Mankiw, Romer and Weil [], have.

In numerical analysis, an iterative method is called locally convergent if the successive approximations produced by the method are guaranteed to converge to a solution when the initial approximation is already close enough to the solution. Iterative methods for nonlinear equations and their systems, such as Newton's method are usually only locally convergent. Studies on economic convergence have shifted from a global non-spatial economic approach and absolute convergence to a local approach and conditional convergence, by taking into account. Steven N. Durlauf & Paul A. Johnson, "Local Versus Global Convergence Across National Economies," NBER Working Papers , National Bureau of Economic Research, Inc. G. Silverberg & B. Verspagen, "Evolutionary Theorizing on Economic Growth," Working Papers wp, International Institute for Applied Systems Analysis. the topographical patterns of e-commerce across diverse economies and industries in order to assess the evolution of e-commerce (transformational versus incremental change), the extent of U.S. hegemony, and the extent to which globalization diminishes the power of nations, shapes local economies, and re-aligns national cultures.

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