Citation

Discussion Paper Details

Please find the details for DP1355 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: Twin Peaks: Growth and Convergence in Models of Distribution Dynamics

Author(s): Danny Quah

Publication Date: February 1996

Keyword(s): Catch-up, Convergence Club, Divergence, Intra-distribution Dynamics, Polarization and Stratification

Programme Area(s): International Macroeconomics

Abstract: Convergence concerns poor economies catching up with rich ones. At issue is what happens to the cross-sectional distribution of economies, not whether a single economy tends towards its own steady state. It is the latter, however, that has preoccupied the traditional approach to convergence analysis. This paper describes an alternative body of research that overcomes this shortcoming in the traditional approach. The new findings - on persistence and stratification; on the formation of convergence clubs; and on the distribution polarizing into twin peaks of rich and poor - suggest the relevance of a class of theoretical ideas different from those surrounding the production-function accounting traditionally favoured.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1355

Bibliographic Reference

Quah, D. 1996. 'Twin Peaks: Growth and Convergence in Models of Distribution Dynamics'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1355