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World War II and convergence

Authors Cook, David E. View this author's profile
Issue Date 2002
Source REVIEW OF ECONOMICS AND STATISTICS , v. 84, (1), 2002, FEB, p. 131-138
Summary Proxies that measure the effect of World War H on a country's capital stock are used as instruments for estimating standard cross-country growth regressions. The war's destruction should offer a natural experiment that allows us to consistently estimate the speed at which productivity growth converges to its long-run path. This paper presents evidence that convergence rates are approximately 4\% to 6\% per annum, substantially larger than conventional wisdom.
ISSN 0034-6535
Language English
Format Article
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