An empirical analysis of convergence hypothesis

摘要

This paper studies convergence hypothesis for a sample of 54 countries over the period 1961 to 1992. The results of convergence tests do not support the hypothesis. The results further show that the little catching-up observed in aggregate income andconsumption is offset by a faster population growth rate in poor countries as compared to the rich. The analysis of per capita income ranks further supports this result. Although there are a few instances of remarkable growth in the Far Eastern countries, one can also find some poor countries whose position in terms of per capita income has deteriorated in comparison to the relatively well-off countries.