Did globalization drive convergence? Identifying cross-country growth regimes in the long run

Abstract

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Globalisation and Convergence of International Life Insurance Markets

“…The similarity in the population development across countries would reduce differences between countries' development of life insurance markets. As these trends are related to social or economic aspects within a country, this paper provides consistent findings 11 Di Vaio and Enflo (2010). 12 Hussels et al (2005) and Lee and Chiu (2012).…”

On the Existence of a Middle‐Income Trap

“…It is therefore natural to think of the USA as lying close to the technological frontier and on a balanced growth path. This contrasts with many European economies that experienced significant catch‐up during the golden age of the immediate aftermath of World War II period – the golden age (Landon‐Lane & Robertson, ; Di Vaio & Enflo, ).…”

“…It is therefore natural to think of the USA as lying close to the technological frontier and on a balanced growth path. This contrasts with many European economies that experienced significant catch-up during the golden age of the immediate aftermath of World War II periodthe golden age (Landon-Lane & Robertson, 2009;Di Vaio & Enflo, 2011). Table 1 lists the middle-income countries, defined as the middle 40 per cent of countries ranked by PPP GDP per capita (US dollars) in 2010, taken from Heston et al (2012).…”

A curse or a blessing? Natural resources in a multiple growth regimes analysis

“…Using the same methodology, Flachaire et al (2011) examine the direct and indirect roles of economic and political institutions in the process of development, and their results indicate that political institutions are the main determinant of which growth regime a country belongs to, while economic institutions have an direct impact on growth rates within each of the two regimes. Mixture regressions have also been used by Bos et al (2010) and Vaio and Enflo (2011) to examine respectively, growth in the very long-run (using an historical data) and the possibility of countries switching regimes. Neither of these papers considers the role of natural resources, yet the framework is obviously suited to examine the question.…”