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What is ? Convergence

Chapter 2
Handbook of Research on Global Indicators of Economic and Political Convergence
It is defined by a negative correlation between the growth rate of per capita income and the initial income level. This convergence is usually conditional because countries have different structural characteristics (propensity to save, population growth rate, technological progress, etc .).
Published in Chapter:
The Problems of Development Gap between Developed and Developing Nations: Is There Any Sign of Convergence?
Debashis Mazumdar (Bangabasi College, India)
Copyright: © 2016 |Pages: 22
DOI: 10.4018/978-1-5225-0215-9.ch002
Abstract
The persistently large income gap between the Developed Countries (DCs) of the North and relatively Less Developed and Developing Countries (LDDCs) of the South is one of the most notable features of the international community over the last few decades. Such large disparities in income are paralleled by huge gaps in other non-monetary indicators of well being. Different research works in this field have indicated that the average annual growth rate of per capita income in LDDCs has been faster compared to that in DCs particularly since early 1990s indicating a sign of convergence in the growth process. However, the absolute gap between the DCs and LDDCs in terms of per capita GNP has widened over years. In this chapter, an attempt has been made to indicate the pattern of ß-convergence and s- convergence in income growth between DCs and LDDCs during 1960-2012. The study observes that there remains a definite indication of ß and s convergence in the growth rate of real PCI across different groups of nations particularly during the period 2000-2013.
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More Results
Chapter 1
Convergence Analysis of Households' Consumption Expenditure: A Cross Country Study
The existing literatures show that s convergence is not even general. Hence a more general approach of testing ß convergence is the rank concordance index which is also known as ? convergence. If the trend of rank concordance tends to zero it means the economies are getting closer and closer and if it instead tends to unity there arises the possibility of extreme inequality.
Published in Chapter: Convergence Analysis of Households' Consumption Expenditure: A Cross Country Study; From: Handbook of Research on Global Indicators of Economic and Political Convergence
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Chapter 8
Convergence and Equality of Road Infrastructure: A Cross Country Analysis
The concept of ? convergence measures how the ranks of the countries change over time through a proper index which is known as rank concordance index. The concept of absolute ß convergence is not unbiased and s convergences, although unbiased, is not a general concept of convergence. The concept of ? is considered as the better approach of measuring inter-country convergence. If the values of ? tend towards zero then we can say that the backward countries are catching up with the advanced countries and the corresponding inequalities across the countries are going down. For detail see the methodology section.
Published in Chapter: Convergence and Equality of Road Infrastructure: A Cross Country Analysis; From: Handbook of Research on Global Indicators of Economic and Political Convergence
Full Text Chapter Download: US $37.50 Add to Cart
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