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What is Conditional ß Convergence

Chapter 22
Handbook of Research on Global Indicators of Economic and Political Convergence
If there is heterogeneity in fundamental variables among the economies, the rich countries may grow at higher rates than the poor even with the former have higher initial value of the variable than the latter. It means convergence of the countries to their own steady states.
Published in Chapter:
Convergence of Forest Resources in Jangalmahal, West Bengal
Nilendu Chatterjee (Rabindra Bharati University, India) and Soumyananda Dinda (The University of Burdwan, India)
Copyright: © 2016 |Pages: 27
DOI: 10.4018/978-1-5225-0215-9.ch022
Abstract
The topic of growth and convergence is at the heart of a wide-ranging debate in the growth literature. The century long history of deprivation and backwardness of Jangalmahal area and four districts of it in the state of West Bengal—Purulia, Bankura, West Midnapore and parts of Birbhum—is also a well discussed issue. The dependency of the people on forest products to earn livelihoods is a natural phenomenon which, over the years, has resulted in considerable exploitation of forest resources. Through this chapter, we have made an attempt to see whether there exists any convergence, both absolute as well as conditional, in the total forest product of Jangalmahal and in the incomes earned from forest resources. We have seen the presence of Beta convergence, both conditional and absolute, in both tests of forest products as well as income from it. Sigma of forest income diverges instead of converge. Similar result is seen in case of timber.
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Chapter 3
Convergence Aspect of Capital Formation: A Study on Major Countries
Absolute ß convergence works when the economies are homogeneous in other respects except the differences in the variable under consideration. It is a highly restricted condition on the ground that all the economies will be homogeneous in all fundamental/structural variables; rather there may be differences or heterogeneities across the economies in this respect. The countries converging in conditional sense mean that, even if the base values are identical, the countries can converge to its own steady state. Other structural variables that create the difference may be the level of education, levels of FDI, position in the human development index ranking, etc.
Published in Chapter: Convergence Aspect of Capital Formation: A Study on Major Countries; From: Handbook of Research on Global Indicators of Economic and Political Convergence
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Chapter 1
Convergence Analysis of Households' Consumption Expenditure: A Cross Country Study
Sometimes it happens that countries or regions differ in their steady state values to which they want to converge. It arises when there are some conditional variables start to work which are mainly the structural variables. If each economy tends to converge to its own steady states not to common steady states then it is called conditional convergence. In such a situation a vector of other explanatory variables play the role of determining growth rates besides the base value of the variable.
Published in Chapter: Convergence Analysis of Households' Consumption Expenditure: A Cross Country Study; From: Handbook of Research on Global Indicators of Economic and Political Convergence
Full Text Chapter Download: US $37.50 Add to Cart
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