The classical approach to convergence analysis

Article Abstract:

Convergence analysis is used to predict whether poor economies will remain poor and whether rich countries will remain rich in the years to come. The two major concepts in classical convergence analysis are beta- and sigma-convergence. The patterns of convergence are investigated by analyzing dispersion of GDP in 110 countries from 1945 to 1990. The data sets indicated significance evidence of sigma- and absolute-beta-convergence. The rate of conditional convergence was measured at 2% per year.

Methods, Economic research, Gross domestic product

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Unemployment and inflationary finance dynamics at the early stages of transition

Article Abstract:

A modified transition model is used to evaluate the monetary and financial factors that affect economic transitions. Data on countries belong to the former Soviet Union show that successful transition is negatively affected by the absence of effective tax systems and financial intermediaries and reliance on seigniorage. Although strict monetary policy and selective taxation can help control high inflation and induce effective transition, its unreasonable speed can also lead to its failure.

Economic policy, Inflation (Finance), Taxation, Former Soviet Union, Inflation (Economics)

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Adaptive capital information depreciation and Schumpeterian growth

Article Abstract:

A model of economic growth where agents expect continuous technological advances is discussed. This model is characterized by information depreciation where a downturn ensues immediately after the acceptance and implementation of new technology. This negative phenomenon is, however, but temporary as the benefits are assumed to come in the long run. This theory is consonant with Schumpeter's creative destruction hypothesis.

Technological innovations

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