Cross-country convergence in global value chains: Evidence from club convergence analysis

Country and Industry Convergence of Equity Markets: International Evidence from Club Convergence and Clustering

Abstract. This study employs the panel convergence methodology developed by Phillips and Sul (2007) to explore the convergence dynamics of international equity markets. The analysis considers both country and industry effects. While traditional portfolio management strategies usually follow a top-down procedure, assuming that country-level effects drive financial aggregates (e.g., stock returns...

Cross-country Income Convergence Revisited

We reassess the convergence properties of the cross-country distribution of income and its determinants using the dataset constructed by Klenow and Rodriguez-Clare (2005) and our updated version of the same data. Consistent with the literature, the ergodic distribution of output per worker features separate convergence clubs. In contrast to previous …ndings, productivity display convergence in ...

Cross-country Convergence and Growth: Evidence from Nonparametric and Semiparametric Analysis

This article studies the absolute and conditional convergence of real GDP per capita among 164 world economies over the sample period of 1970-2006. The data-driven model specification tests justify the use of nonparametric and semiparametric models. The estimation results show that control variables play a negative/positive channel effect in the growth convergence for poor/developed economies. ...

Patent Club Convergence among Countries

The article uncovers profound empirical and conceptual shortcomings concerning the "one-size-fits-all" innovation and intellectual property-related policies used internationally. These policies surely are funneled by the World Trade Organization (WTO) and the TRIPS Agreement or the World Intellectual Property Organization (WIPO)'s archetypical Development Agenda. The article offers a novel deli...

Patent Club Convergence Among Nations