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| Theil, Henri; Deepak, Sri Devi. |
| We use international comparison data of Summers and Heston to trace the development of three regions in Western Europe: the countries currently outside the European Union (EEC), the EEC Center, and the EEC Periphery (Greece, Ireland, Portugal, and Spain). For each year during the period 1950-1990, the per capita gross domestic products of these regions decrease in this order, but the development over time shows a rapid increase of all three regions as well as a mutual convergence, the inequality of the regions and their constituent countries declining substantially. |
| Tipo: Journal Article |
Palavras-chave: Convergence; GDP; Inequality; Purchasing power parity; Western Europe; World Penn Tables. |
| Ano: 2003 |
URL: http://purl.umn.edu/43297 |
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| Deepak, Sri Devi; Seale, James L., Jr.; Moss, Charles B.. |
| The purpose of this paper is to empirically analyze determinants of income-level convergence. Specifically, the effect of human capital on per capita income is estimated for 22 countries of the organization for Economic Cooperation and Development (OECD). Additionally, the effects of openness in international trade and investment and government expenditures on per capita income are estimated and evaluated. Human capital is modeled as a latent variable, and results indicate that it is a significant factor in explaining the variation of per capita income levels among the OECD countries. Further, the entire time path of human capital is utilized to explain deviations in per capita income. |
| Tipo: Journal Article |
Palavras-chave: Convergence; Human capital; Inequality; Latent variable; OECD. |
| Ano: 2003 |
URL: http://purl.umn.edu/43299 |
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