conditional convergence


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Related to conditional convergence: absolute convergence

conditional convergence

n.
Convergence of an infinite series that lacks absolute convergence, such as 1/2 + 1/3 + 1/4 ....
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In other words, the model predicts conditional convergence in the sense that a smaller initial value of real per capita income tends to generate a higher rate of growth per capita.
By allowing conditional convergence of TFP and regional spillovers, their results prove that human capital has a positive and direct effect on TFP, while R&D has a positive but indirect effect.
Galor (1996) defined convergence by identifying three different types of convergence: (i) absolute (unconditional) convergence, (ii) conditional convergence and (iii) "club" convergence.
In the column "Model," the letter C indicates that the hypothesis of absolute convergence cannot be statistically accepted and the conditional convergence model specification (1) has been estimated according to Kiviet estimator.
Conditional convergence requires that the economies are assumed to move towards their own steady states.
Many authors deal with the subject of convergence and usually two types of convergence between different economies can be defined; these are absolute convergence and conditional convergence.
However, the data did support conditional convergence, which implies that different regions followed independent growth paths.
Therefore, they developed and tested a model of conditional convergence based on the specifications of the Solow model.
Real wages in Colombia: a conditional convergence analysis: 1984-2009 (1)
Second, catching up or conditional convergence, which automatically holds if we can establish the equality of long-term forecasts, focuses on identifying movement toward complete convergence, although it is not yet achieved.
Barro and Sala-i-Martin (1995) and Mankiw, Romer and Weil (1992) cover the topic of income convergence in detail, providing evidence of both unconditional and conditional convergence.
It also tests whether b-type conditional convergence of real GDP per capita exists or not for the full sample and sub-samples.

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