A test of the conditional convergence hypothesis

Econometric evidence from African countries

Vasudeva N. R. Murthy, Victor Ukpolo

Research output: Contribution to journalArticle

9 Citations (Scopus)

Abstract

Using a new measure of human capital and following the neoclassical framework suggested by Mankiw et al. (1992), [Mankiw, N., Romer, D., Weil, D., 1992. A contribution to the empirics of economic growth. Quarterly Journal of Economics 107, 407-437] this paper presents robust econometric evidence of conditional convergence among African countries over the period 1960-1985. The implied results indicate higher rates of return to physical and human capital and a low speed of convergence in these countries. The observed low speed of convergence in transitional dynamics in African countries can possibly be attributed to many structural factors including the prevailing political and economic institutions.

Original languageEnglish
Pages (from-to)249-253
Number of pages5
JournalEconomics Letters
Volume65
Issue number2
StatePublished - Nov 1999

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African countries
Human capital
Econometrics
Conditional convergence
Speed of convergence
Convergence hypothesis
Economic growth
Physical capital
Economic institutions
Transitional dynamics
Economics
Rate of return
Factors
Political institutions
Empirics

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Finance

Cite this

A test of the conditional convergence hypothesis : Econometric evidence from African countries. / Murthy, Vasudeva N. R.; Ukpolo, Victor.

In: Economics Letters, Vol. 65, No. 2, 11.1999, p. 249-253.

Research output: Contribution to journalArticle

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