Patterns of economic development and the formation of clubs

Journal/Book: J Econ Growth. 1999; 4: Spuiboulevard 50, PO Box 17, 3300 AA Dordrecht, Netherlands. Kluwer Academic Publ. 305-330.

Abstract: This study investigates the sources of heterogeneity across a worldwide set of countries. Unspecified ex ante and unanticipated cultural (Protestant versus Catholic), geographical (continents), and institutional (OECD versus non-OECD) clubs emerge endogenously and naturally as homogeneous classes on the basis of their economic structure. The dynamics both within and across the identified groups of countries are consistent with multiple equilibrium-growth models proposed by, for instance, Azariadis and Drazen (1990), therefore strengthening the viability of the convergence club hypothesis. In particular, higher stages of development are, on average, non linearly associated with higher stages of growth.

Note: Article Desdoigts A, Univ Evry Val Dessonne, EPEE, 4 Bd F Mitterrand, F-91025 Evry, FRANCE

Keyword(s): growth; convergence clubs; poverty trap; cultural factors; location; EQUIPMENT INVESTMENT; PROJECTION PURSUIT; INCREASING RETURNS; GROWTH; CONVERGENCE; INDUSTRIALIZATION; MODELS

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