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Convergence Clubs.pdf

MPRA_paper_50191.pdf

🔗 Source: mpra.ub.uni-muenchen.de

📊 Size: 275 KB

👤 Author: pbarrien

⬇️ Downloads: 289

Summary

The concept of club convergence is used to group countries with similar development paths, but there's no unified agreement on how to identify these clubs. Economic history can guide the identification of clubs by understanding how institutions are formed and how they determine the use of scarce resources. In Latin America, despite common characteristics, there are differences in growth trajectories across countries. The study analyzes 32 Latin American countries over 100 years, identifying two main external shocks: the Great Depression and the oil price shock. Countries are classified into clubs based on natural resources and policy responses to shocks, and significant convergence is found within each club. Institutions, shaped by economic history, play a crucial role in determining growth, and understanding these institutions can help explain differences in growth performances.

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Description

The concept of club convergence is used to group countries with similar development paths, but there's no unified agreement on how to identify these clubs.

Technical Information

File Format: PDF
File Size: 275 KB
Pages: 39
Language: EN
Author: pbarrien
Total Downloads: 289
Last Updated: 15 hours ago

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This PDF document about Convergence Clubs provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Convergence Clubs.