Convergence of GDP per capita in advanced countries over the twentieth century
This study compares GDP per capita levels and growth rates across 17 advanced economies over the period 1890–2013 using an accounting breakdown and runs Phillips and Sul (Econometrica 75(6):1771–1855, 2007) convergence tests. An overall convergence process has been at work among advanced economies,...
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| Published in | Empirical economics Vol. 59; no. 5; pp. 2509 - 2526 |
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| Main Authors | , , |
| Format | Journal Article |
| Language | English |
| Published |
Berlin/Heidelberg
Springer Berlin Heidelberg
01.11.2020
Springer Nature B.V Springer Verlag |
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| Abstract | This study compares GDP per capita levels and growth rates across 17 advanced economies over the period 1890–2013 using an accounting breakdown and runs Phillips and Sul (Econometrica 75(6):1771–1855, 2007) convergence tests. An overall convergence process has been at work among advanced economies, mainly after WWII, driven mostly by capital intensity and then TFP, while trends in hours worked and employment rates are disparate. However, this convergence process came to a halt during technology shocks, during the two world wars and since the 1990s, with the convergence of advanced economies stopping far from the level of US GDP per capita. |
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| AbstractList | This study compares GDP per capita levels and growth rates across 17 advanced economies over the period 1890–2013 using an accounting breakdown and runs Phillips and Sul (Econometrica 75(6):1771–1855, 2007) convergence tests. An overall convergence process has been at work among advanced economies, mainly after WWII, driven mostly by capital intensity and then TFP, while trends in hours worked and employment rates are disparate. However, this convergence process came to a halt during technology shocks, during the two world wars and since the 1990s, with the convergence of advanced economies stopping far from the level of US GDP per capita. |
| Author | Bergeaud, Antonin Cette, Gilbert Lecat, Rémy |
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| BackLink | https://amu.hal.science/hal-03032059$$DView record in HAL |
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| Cites_doi | 10.1002/jae.3950100404 10.1257/aer.89.2.123 10.2307/2534639 10.1111/ecoj.12247 10.1162/jeea.2006.4.2-3.269 10.1023/A:1009746629269 10.2307/2235378 10.1016/j.jmacro.2009.10.004 10.1016/j.econlet.2008.11.025 10.1162/003355399555954 10.1016/j.jmoneco.2010.05.014 10.1162/003355398555711 10.2307/1884513 10.1111/1467-6419.00197 10.2307/2937943 10.1111/roiw.12185 10.1086/700936 10.1111/j.1538-4616.2008.00148.x 10.1111/j.1468-0262.2007.00811.x 10.1002/jae.1080 10.2307/1926047 10.1016/j.econmod.2011.01.013 10.1787/9789264189980-en 10.21034/qr.2811 10.3386/w15577 10.1111/1468-0289.12032 10.1016/B978-0-444-53538-2.00006-X |
| ContentType | Journal Article |
| Copyright | Springer-Verlag GmbH Germany, part of Springer Nature 2019 Empirical Economics is a copyright of Springer, (2019). All Rights Reserved. Springer-Verlag GmbH Germany, part of Springer Nature 2019. Distributed under a Creative Commons Attribution 4.0 International License |
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| Keywords | GDP per capita Productivity E20 Global history O47 Technological change N10 Convergence |
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| SubjectTerms | Capital intensity Comparative studies Convergence Econometrics Economic models Economic theory Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Employment Finance GDP Gross Domestic Product Humanities and Social Sciences Insurance Management Per capita Statistics for Business Technology Working hours |
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| Title | Convergence of GDP per capita in advanced countries over the twentieth century |
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