Factor price convergence in OECD economies: the case of three profit rates indicators
Ivan D. Trofimov
Abstract:This paper examines profit rate (rates of return to capital) convergence in OECD economies in the periods of 1960-2016 and relevant sub-periods. It also performs comparison of profit rates convergence in selected developed and developing economies, using the data for 1973-2003 period. Economy-wide, productive economy and manufacturing rates are estimated and three convergence concepts are considered (beta, sigma, and stochastic convergence). We use a combination of cross-sectional and univariate time series mo… Show more
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