(Ebook) Convergence Clubs in Labor Productivity and its Proximate Sources: Evidence from Developed and Developing Countries by Carlos Mendez ISBN 9789811586286, 9789811586293, 9811586284, 9811586292

(Ebook) Convergence Clubs in Labor Productivity and its Proximate Sources: Evidence from Developed and Developing Countries by Carlos Mendez ISBN 9789811586286, 9789811586293, 9811586284, 9811586292

Testing for economic convergence across countries has been a central issue in the literature of economic growth and development. This book introduces a modern framework to study the cross-country convergence dynamics in labor productivity and its proximate sources: capital accumulation and aggregate efficiency. In particular, recent convergence dynamics of developed as well as developing countries are evaluated through the lens of a non-linear dynamic factor model and a clustering algorithm for panel data. This framework allows us to examine key economic phenomena such as technological heterogeneity and multiple equilibria. In this context, the book provides a succinct review of the recent club convergence literature, a comparative view of developed and developing countries, and a tutorial on how to implement the club convergence framework in the statistical software Stata.