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Books > Business & Economics > Economics > Macroeconomics
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Economic Growth and Convergence - Global Analysis through Econometric and Hidden Markov Models (Hardcover)
Loot Price: R3,882
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Economic Growth and Convergence - Global Analysis through Econometric and Hidden Markov Models (Hardcover)
Series: Routledge Studies in the Modern World Economy
Expected to ship within 12 - 17 working days
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There are many different types of convergence within economics, as
well as several methods to analyse each of them. This book
addresses the concept of real economic convergence or the gradual
levelling-off of GDP (gross domestic product) per capita rates
across economies. In addition to a detailed, holistic overview of
the history and theory, the authors include a description of two
modern methods of assessing the occurrence and rate of convergence,
BMA-based and HMM-based, as well as the results of the empirical
analysis. Readers will have access not only to the conventional
econometric approach of convergence but also to an alternative one,
allowing for the convergence issue to be expressed in the context
of automatic pattern recognition. This approach is universal as it
can be adapted to a variety of input data. The lowest aggregation
level study investigates regional convergence through the case of
Polish voivodships, where convergence towards the leader is tested.
On a higher level of aggregation, the authors examine the existence
of GDP convergence in such groups as the EU28, North Africa and the
Middle East, sub-Saharan Africa, South America, Caribbean,
South-East Asia, Australia and Oceania, or post-socialist
countries. For each group, the real convergence is tested using the
two above-mentioned approaches. The results are widely discussed,
broadly illustrated, interpreted, and compared. The analysis allows
readers to draw interesting conclusions about the causes of
convergence or the drivers behind divergence. The book will
stimulate further research in the field, but the research was
conducted from the point of view of individual countries.
General
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