Comments - Why poor countries stopped catching up
davidoks.blog · 405 words · saved by 1 readers
The rise and fall of the Great Convergence
I didn’t finish reading this because the first half is so completely wrong. It grossly misrepresents the existing literature, history of empirical work and even the model itself. There was a HUUUUGGGGGEEEEEE literature on growth and convergence in the 90s. Mankiw Romer and Weil, the paper that set off literally “millions of growth regressions” (to paraphrase Sala i Martin), are 1992. And really it goes back another decade, to Barro. And all these papers found *support* for Solow model. It never came “under attack”, although starting in mid 70s, it got expanded upon with New Growth Theory…
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