The author, using a neoclassical Solow model, estimates an economy's rate of convergence to its own steady state. Using panel date for a sample of 98 countries, the author applies Chamberlain's (1984) estimation procedures to account for the presence of country-specific effects resulting from idiosyncratic unobservable factors. This procedure also prevents the estimation bias due to measurement error in the Gross Domestic Product. Controlling, additionally...
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INFORMATION
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1994/08/31
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Document de travail de recherche sur les politiques
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WPS1333
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1
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1
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2010/07/01
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A test of the international convergence hypothesis using panel data
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rate of convergence