How Fast Do Economics Converge?
传统方法估计经济体收敛速度需要严格假设，但数据不满足。本文提出一种弱假设下的新方法，估计出的收敛速度远高于文献结果，与新古典增长理论预测一致。
The conventional approach to estimating how fast economies converge examines the cross-economy relationship between the growth rate of per-capita output over some time period and its initial level. This approach produces consistent estimates only under highly restrictive assumptions, which are violated by the data. The paper develops an alternative approach that produces consistent estimates under weak assumptions. This approach yields estimates substantially larger than those reported in the literature and also sufficiently large to be broadly consistent with the predictions of neoclassical growth theory. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology