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Distribution dynamics: stratification, polarization and convergence among OECD economies, 1870-1992

By Philip Epstein, Peter Howlett and Max-Stephan Schulze

Abstract

Using a distribution dynamics approach, the growth experience of 17 OECD economies is investigated. After explaining the distribution dynamics approach, the empirical analysis examines both the observed period dynamics and the unique long-run equilibrium associated with three periods. This study suggests persistence and stratification, not convergence, characterized the pre-1914 regime, whereas convergence was the key feature of the post-war regime. However, a larger sample of OECD economies in the post-war period indicates that convergence was primarily a feature of the Golden Age and in the post-Golden Age period separation, polarization, and divergence came to the fore

Topics: HC Economic History and Conditions
Publisher: Elsevier
Year: 2003
DOI identifier: 10.1016/S0014-4983(02)00023-2
OAI identifier: oai:eprints.lse.ac.uk:4328
Provided by: LSE Research Online
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