Per capita income, human capital, and inequality convergence: A latent-variable approach

Journal of Agricultural and Applied Economics, 2003 by Deepak, Sri Devi, Seale, James L Jr, Moss, Charles B

1 The phenomenon of convergence refers to the accelerated growth of relatively poor countries compared to that of relatively rich countries; the divergence-convergence hypotheses originated in neoclassical economics with Kuznets' inverted-U theory.

2 The cointegration study of Weatherspoon, Seale, and Moss is unique in that they directly relate government expenditure inequality, investment inequality, and industrial employment inequality to income inequality for the G-7 and selected European countries.

3 These countries are Australia, Austria, Belgium, Canada, Denmark, Finland, France, West Germany, Greece, Ireland, Italy, Japan, The Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the U.K., and the United Slates; Iceland, and Luxembourg were not included due to lack of data.

References

Barro, R.J. "Economic Growth in a Cross Section of Countries." Quarterly Journal of Economics 106(1991):407-43.

Barro, R.J., and X. Sala-i-Martin "Convergence." Journal of Political Economy 100 (1992):223-51.

Sri Devi Deepak is an assistant professor, Tippie College of Business, University of Iowa; James L. Seale, Jr., and Charles B. Moss are professors, Food and Resource Economics Department, University of Florida.

This paper is Florida Agricultural Experiment Station Journal Series Number R-09370.

Corresponding author: James L. Seale, Jr., P.O. Box 110245, Department of Food and Resource Economics, University of Florida, Gainesville, FL 32611-0240 (e-mail: jlseale@mail.ifas.ufl.edu).