Factor Mobility and Income Growth: Two Convergence Hypotheses /
Razin, Assaf.
Factor Mobility and Income Growth: Two Convergence Hypotheses / Assaf Razin, Chi-Wa Yuen. - Cambridge, Mass. National Bureau of Economic Research 1995. - 1 online resource: illustrations (black and white); - NBER working paper series no. w5135 . - Working Paper Series (National Bureau of Economic Research) no. w5135. .
May 1995.
While technologies and policy fundamentals are presumably different internationally, inducing differences in growth rates, capital mobility is shown to be a powerful force in achieving complete growth rate equalization across countries. We provide evidence in support of this effect, showing that restrictions on capital flows tend to make individual country growth rates more divergent. In the context of regional growth, however, labor mobility is shown to be capable of generating income level equalization across regions in the presence of knowledge spillovers. Some supporting evidence is found for this effect, showing that restrictions on labor flows tend to make individual region/country per capita income more divergent.
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Mode of access: World Wide Web.
Factor Mobility and Income Growth: Two Convergence Hypotheses / Assaf Razin, Chi-Wa Yuen. - Cambridge, Mass. National Bureau of Economic Research 1995. - 1 online resource: illustrations (black and white); - NBER working paper series no. w5135 . - Working Paper Series (National Bureau of Economic Research) no. w5135. .
May 1995.
While technologies and policy fundamentals are presumably different internationally, inducing differences in growth rates, capital mobility is shown to be a powerful force in achieving complete growth rate equalization across countries. We provide evidence in support of this effect, showing that restrictions on capital flows tend to make individual country growth rates more divergent. In the context of regional growth, however, labor mobility is shown to be capable of generating income level equalization across regions in the presence of knowledge spillovers. Some supporting evidence is found for this effect, showing that restrictions on labor flows tend to make individual region/country per capita income more divergent.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.