The logic of economic convergence

Author: Li Xiaoning
Publisher:
Publish Date: 2006-05-08
Features: Economic convergence is a key issue in growth theory and development economics. The neoclassical growth theory, which has long dominated the field, has inferred absolute convergence, but empirical evidence supports conditional convergence. Endogenous growth theory transforms the issue of economic convergence into a problem of technological convergence, although it has improved the explanation of economic convergence in growth theory, it remains unsatisfactory. Building on existing theoretical achievements, this book introduces trade, incentive structures, and institutional change into growth theory, re-examining the logic of economic convergence. It is suitable for researchers studying growth theory and development economics, as well as serving as a reference book for upper-level undergraduate and graduate economics students. Building on existing theoretical achievements, this book introduces trade, incentive structures, and institutional change into growth theory, re-examining the logic of economic convergence.