Abstract
We find fast convergence in productivity for 99 3-digit European industries over the 1985-1998 period. Half of any productivity gap is closed
on average in about 10-15 years. We explicitly formulate the steady state
assumptions for structural convergence to hold. Convergence in industrial structure is much slower than productivity catch up with a half-life of around fifty years, a stylized fact which cannot easily be explained by the existing models of trade and growth.
on average in about 10-15 years. We explicitly formulate the steady state
assumptions for structural convergence to hold. Convergence in industrial structure is much slower than productivity catch up with a half-life of around fifty years, a stylized fact which cannot easily be explained by the existing models of trade and growth.
| Original language | English |
|---|---|
| Pages (from-to) | 61 - 79 |
| Journal | German Economic Review |
| Volume | 5 |
| Issue number | 1 |
| Publication status | Published - 1 Aug 2003 |
Austrian Classification of Fields of Science and Technology (ÖFOS)
- 502013 Industrial economics