Reopening the convergence debate: A new look at cross-country growth empirics

Caselli, Francesco; Esquivel, Gerardo; Lefort, Fernando

doi:10.1007/bf00141044

Cited by 1,496 publications

(1,204 citation statements)

References 23 publications

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“…In the bottom row of Panel B in Table 6 we use the Hausman test to determine whether AIDS should be treated as exogenous or endogenous. In two of the specifications, with dOECD and interaction term (column 4), and with dOECD, interaction term and time effects, we are able to reject the null at the 10% level of significance that AIDS and 23 The first paper that examined cross-country regressions adjusting for both the fixed-effects problem as well as for the endogeneity problem is Caselli et al (1996).…”

Section: Panel-iv Estimationmentioning

confidence: 83%

What Do We Know About the Impact of AIDS on Cross-Country Income So Far?

Papageorgiou

Stoytcheva

2004

SSRN Journal

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Section: Panel-iv Estimationmentioning

confidence: 83%

What Do We Know About the Impact of AIDS on Cross-Country Income So Far?

Papageorgiou

Stoytcheva

2004

SSRN Journal

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“…Por lo que respecta a la tasa de crecimiento de la población, autores como Sala-i-Martin (2002) señalan que los ingresos familiares provocan un aumento en la población, pudiendo ser considerada como una variable exógena débil o predeterminada. Otros autores, como Caselli et al (1996) o Bond et al (2001), asumen que estas variables explicativas son potencialmente endó-genas, ya que su principal objetivo es estimar los coeficientes del modelo eliminando las posibles fuentes de sesgo. Respecto al gasto público, algunos autores, como Easterly y Rebelo (1993) o Engen y Skinner (1996), han señalado que una mayor renta per cápita puede incrementar tanto los ingresos como los gastos públicos, generando problemas de endogenidad (Ley de Wagner).…”

Section: Análisis Empíricounclassified

El impacto de las remesas en el crecimiento económico de América Latina, 1975-2012

Mayoral

Proaño

2015

Am. Lat. Hoy. Rev. Cienc. Soc.

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BIBLID [1130-2887 (2015) 69, 141-161] Fecha de recepción: 6 de junio del 2013 Fecha de aceptación: 10 de enero del 2015 RESUMEN: La presente investigación analiza el efecto de las remesas en el crecimiento económico de los países de América Latina durante el período 1975-2012, controlando la posible endogeneidad de los regresores a través de estimadores GMM de sistema para modelos dinámicos de datos de panel. Los resultados muestran que no existe relación significativa entre remesas y crecimiento económico en la mayor parte de países de América Latina, aunque su efecto sí es significativo a partir de la crisis financiera internacional de 2008. Por otro lado, el mayor crecimiento de las remesas se produce en aquellos países con un menor nivel de renta per cápita a corto plazo, lo que estaría evidenciando su carácter contracíclico y lo limitado de sus efectos al estar destinadas principalmente hacia el consumo.Palabras clave: remesas; crecimiento económico; América Latina; GMM de sistema.ABSTRACT: The purpose of this paper is to analyze the impact of remittances on Latin American economic growth during the period 1975-2012, focusing on the potential endogeneity of the regressors through the GMM system estimators for dynamic data panel models. The results show that there is only a weak correlation between remittances and economic growth in most Latin American countries. This effect has been, however, positive and significant since the international financial crisis of 2008. On the other hand, the highest remittance growth occurs in countries with

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“…This in turn allows us to correct the average wage e¤ect (currently determined only by the productivity e¤ect of immigration and emigration) for this sluggish capital adjustment and to obtain the short-run e¤ect on the average wage of non-migrants. The empirical growth literature (Islam, 1995;Caselli et al, 1996) and the business cycle literature (Romer, 2006, Chapter 4), provide model-based and empirical estimates of 1 . The recent growth literature usually estimates a 10% speed of convergence of capital to the own balanced growth path for advanced (OECD) economies (Islam, 1995;Caselli et al, 1996), implying 1 = 0:9: Similarly, the business cycle literature calculates the speed of convergence of capital to be between 10% and 20% in each year (Romer, 2006, Chapter 4) for closed economies, and even faster rates for open economies.…”

Section: Accounting For Physical Capital Sluggishness (Short-run E¤ects)mentioning

confidence: 99%

The wage effects of immigration and emigration

Docquier

Özden

Peri

2011

Policy Research Working Papers

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In this paper, we simulate the long-run effects of migrant flows on wages of high-skilled and low-skilled non-migrants in a set of countries using an aggregate representation of national economies. We focus on Europe and compare the outcomes for large Western European countries with those of other key destination countries both in the OECD and outside the OECD. Our analysis builds on an improved database of bilateral stocks and net migration flows of immigrants and emigrants by education level for the years 1990 through 2000. We find that all European countries experienced a decrease in their average wages and a worsening of their wage inequality because of emigration. Whereas, immigration had nearly equal but opposite effects. These patterns hold true using a range of parameters for our simulations, accounting for the estimates of undocumented immigrants, and correcting for the quality of schooling and/or labor-market downgrading of skills. In terms of economic outcomes, it follows ... AbstractIn this paper, we simulate the long-run e¤ects of migrant ‡ows on wages of high-skilled and low-skilled non-migrants in a set of countries using an aggregate representation of national economies. We focus on Europe and compare the outcomes for large Western European countries with those of other key destination countries both in the OECD and outside the OECD. Our analysis builds on an improved database of bilateral stocks and net migration ‡ows of immigrants and emigrants by education level for the years 1990 through 2000. We …nd that all European countries experienced a decrease in their average wages and a worsening of their wage inequality because of emigration. Whereas, immigration had nearly equal but opposite e¤ects. These patterns hold true using a range of parameters for our simulations, accounting for the estimates of undocumented immigrants, and correcting for the quality of schooling and/or labor-market downgrading of skills. In terms of economic outcomes, it follows that prevalent public fears in European countries are misplaced; immigration has had a positive average wage e¤ect on native workers. These concerns would be more properly focused on the wage e¤ect of emigration. JEL Codes: F22, J61, J31.

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Reopening the convergence debate: A new look at cross-country growth empirics

Cited by 1,496 publications

References 23 publications

What Do We Know About the Impact of AIDS on Cross-Country Income So Far?

What Do We Know About the Impact of AIDS on Cross-Country Income So Far?

El impacto de las remesas en el crecimiento económico de América Latina, 1975-2012

The wage effects of immigration and emigration

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