Growth and convergence/divergence in productivity under balance-of-payments constraint
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Published:
Feb 23, 2011
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Abstract
This paper presents a model of convergence/divergence in productivity for two economies of different size and development. More precisely the model postulates the existence of leader and follower economies. The leader has higher levels of productivity and is technologically more advanced. The follower economy is closely linked to the leader economy. Finally, the leader economy issues the international reserve currency.
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Pérez Caldentey, E., & Ali, A. (2011). Growth and convergence/divergence in productivity under balance-of-payments constraint. Investigación Económica, 70(275). https://doi.org/10.22201/fe.01851667p.2011.275.24261
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