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Do poor countries grow faster than rich countries? In other words, does the gap of GDP per capita among countries decrease over time?
The purpose of this study is 1) to describe the empirical tools available to investigate the international convergence of product per capita, 2) to expose by a literature review the different findings on the subject, 3) to assess the pros and cons of the different empirical methods, 4) to investigate, by a meta-regression, the reasons of the multiple different findings in term of β-convergence, 5) to estimate the ‘true’ β-convergence speed.
Beta, sigma, gamma, total factor productivity, unit root, Markov chains, non-parametric analysis among others, these are possible methods to investigate the concept of international convergence of GDP per capita. The literature review shows that these different methods lead to different findings. Moreover, a single method applied by different authors can result in different findings. In front of this multitude of results, we are going to focus on the β-convergence.
Within the framework of a meta-regression realized with 116 different estimations of speed of β-convergence from 14 different authors, we found what was the cause of the differences in the findings. The statistical estimator used shows a great influence on the result: the use of an OLS estimator results in very small speed of convergence compared to a fixed-effect or a GMM estimator. The source of the data and the homogeneity of the countries included in each study also have a relevant impact on the result. In terms of conditional convergence, the choice of the conditioning variables is crucial since each of them influences differently the results. The time period under study has obviously an impact on the resulting speed of convergence.
The empirical results show that from an international point of view, there has been a conditional β-convergence of GDP per capita during the period 1960-2016. On the other-hand, the results do not provide any evidence for international absolute convergence. Therefore, the gap of GDP per capita between poor and rich countries is not vanishing.

beta --- convergence --- growth --- conditional --- meta-regression --- GDP per capita --- Sciences économiques & de gestion > Economie internationale

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This study aimed to determine how excess mortality rates due to the Covid-19 pandemic have changed in high- and middle-income countries. It is examined that the partial relationship between the excess mortality rate and its economical and political factors. Several variables are controlled when the economical and political factors are observed. The sample occurs with the annual excess mortality rates in 99 countries (63 high-income and 36 middle-income economies) between April 2020 and April 2021. The period began when the mainland officially announced an all-cause mortality rate of 10. Two different models are examined with the Weighted Least Squares (WLS) Estimation Method. As a result, it is found that the interest variable, GDP per capita PPP, has a significant effect on the dependent variable, excess mortality rate p - score. While mobility trends for grocery and pharmacy stores, Government Stringency Index, Hospital beds rate, Population age ratio (+65 age), and Young age dependency ratio are statistically significant in one of the Models, they are insignificant in the other Model. On the other hand, there is no significant effect of the urban population, income support, and mobility trends for retail and recreation areas on the excess mortality rate. Geographical location, as continental dummies, is significant only with reference continents, Asia, and North America.

Covid-19 --- Excess mortality --- GDP per capita --- Sciences économiques & de gestion > Domaines particuliers de l'économie (santé, travail, transport...)

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This paper documents an unusual and possibly significant phenomenon: the export of skills, embodied in goods, services or capital from poorer to richer countries. The authors first present a set of stylized facts. Then, using a measure that combines the sophistication of a country's exports with the average income level of destination countries, they show that the performance of a number of developing countries - notably China, Mexico and South Africa - matches that of much more advanced countries - such as Japan, Spain and the United States. The authors create a new combined dataset on foreign direct investment (covering greenfield investment as well as mergers and acquisitions). The analysis shows that flows of foreign direct investment to developed countries from developing countries - like Brazil, India, Malaysia and South Africa - as a share of their GDP, are as large as flows from developed countries - like Japan, Korea and the United States. The authors suggest that it is not just the composition of exports but their destination that matters. In both cross-sectional and panel regressions, with a range of controls, a measure of uphill flows of sophisticated goods is significantly associated with better growth performance. These results suggest the need for a deeper analysis of whether the benefits of development might derive not from deifying comparative advantage but from defying it.

Comparative advantage --- Competitiveness --- Debt Markets --- Development economics --- Economic integration --- Economic performance --- Economic Theory and Research --- Economies of scale --- Emerging Markets --- Exports --- Finance and Financial Sector Development --- Fixed costs --- GDP --- GDP per capita --- Growth theories --- Human capital --- Imperfect competition --- Income --- International Economics & Trade --- International trade --- Investment and Investment Climate --- Macroeconomics and Economic Growth --- Mergers --- Per capita income --- Per capita incomes --- Private Sector Development --- Product differentiation --- Productivity --- Public Sector Development --- Trade Policy

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De scriptie heeft als doel de relatie tussen de bancaire rentemarge en de economische performantie in kaart te brengen. Vooreerst werd de literatuur met betrekking tot deze relatie bestudeerd. We konden hieruit besluiten dat er tot op heden weinig onderzoek is gevoerd dat specifiek ingaat op deze relatie. Daarom leek het ons interessant om de relatie tussen de bancaire rentemarge en de economische performantie (in casu het BBP per capita en de groei van het BBP) te bestuderen. Dit deden we voor alle landen waarvoor er cijfermateriaal beschikbaar is en waar er minstens 8 miljoen inwoners zijn. Met behulp van statistische analyse voerden we eerst een enkelvoudige regressie tussen beide variabelen uit. Daarna voerden we meerdere verklarende variabelen aan ons model toe, om zo een beter zicht te krijgen op de invloed van de rentemarge op de economische performantie in vergelijking met de andere variabelen. Omdat de onderzochte relatie in beide richtingen kan gaan, werd daarna opnieuw de meervoudige regressie uitgevoerd, maar werden de verklarende variabelen met een lag van 1 jaar opgenomen. Bovendien werden alle bekomen resultaten getoetst op een eventuele invloed van de financiële en economische crisis van 2001 en van 2007-2008. We konden bij zowel de enkelvoudige als de meervoudige regressie besluiten dat de rentemarge slechts in beperkte mate een invloed uitoefent op zowel het BBP per capita als de groei van het BBP. De scriptie heeft als doel de relatie tussen de bancaire rentemarge en de economische performantie in kaart te brengen. Vooreerst werd de literatuur met betrekking tot deze relatie bestudeerd. We konden hieruit besluiten dat er tot op heden weinig onderzoek is gevoerd dat specifiek ingaat op deze relatie. Daarom leek het ons interessant om de relatie tussen de bancaire rentemarge en de economische performantie (in casu het BBP per capita en de groei van het BBP) te bestuderen. Dit deden we voor alle landen waarvoor er cijfermateriaal beschikbaar is en waar er minstens 8 miljoen inwoners zijn. Met behulp van statistische analyse voerden we eerst een enkelvoudige regressie tussen beide variabelen uit. Daarna voerden we meerdere verklarende variabelen aan ons model toe, om zo een beter zicht te krijgen van de invloed van de rentemarge op de economische performantie in vergelijking met de andere variabelen. Omdat de onderzochte relatie in beide richtingen kan gaan, werd daarna opnieuw de meervoudige regressie uitgevoerd, maar werden de verklarende variabelen met een lag van 1 jaar opgenomen. Bovendien werden alle bekomen resultaten getoetst op een eventuele invloed van de financiële en economische crisissen van 2001 en 2007-2008. We konden bij zowel de enkelvoudige als de meervoudige regressie besluiten dat de rentemarge slechts in beperkte mate een invloed uitoefent op zowel het BBP per capita als de groei van het BBP.

BBP per capita. --- Bancaire rentemarge. --- Financiële en economische crisis van 2001 en 2007-2008. --- Groei van het BBP. --- S181-financiële-wetenschappen.

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The validity of instrumental variables (IV) regression models depends crucially on fundamentally untestable exclusion restrictions. Typically exclusion restrictions are assumed to hold exactly in the relevant population, yet in many empirical applications there are reasonable prior grounds to doubt their literal truth. In this paper I show how to incorporate prior uncertainty about the validity of the exclusion restriction into linear IV models, and explore the consequences for inference. In particular I provide a mapping from prior uncertainty about the exclusion restriction into increased uncertainty about parameters of interest. Moderate prior uncertainty about exclusion restrictions can lead to a substantial loss of precision in estimates of structural parameters. This loss of precision is relatively more important in situations where IV estimates appear to be more precise, for example in larger samples or with stronger instruments. The author illustrates these points using several prominent recent empirical papers that use linear IV models.

Access to Finance --- Benchmark --- Bilateral trade --- Consumers --- Currencies and Exchange Rates --- Econometrics --- Economic Theory & Research --- Finance and Financial Sector Development --- GDP --- GDP per capita --- Growth rate --- Human capital --- Macroeconomics --- Macroeconomics and Economic Growth --- Per capita incomes --- Property rights --- Statistical & Mathematical Sciences