Este trabalho analisou o comportamento da produtividade da terra na agricultura brasileira, avaliando se há ou não convergência na evolução dessa variável. A análise compreende o período de 1960 a 2001 e alguns sub-períodos desses 42 anos, mais precisamente, os sub-períodos de 1970 a 2001, 1975 a 2001 e 1980 a 2001. A convergência é um processo em que uma mesma variável (por exemplo, renda per capita, produtividade da terra) apresenta diferentes valores entre países, regiões ou estados, mas essa diferença se reduz ao longo do tempo, indicando que a desigualdade diminui. As razões para haver o processo de convergência são várias, destacando-se as mudanças estruturais no processo de produção, a difusão tecnológica, a retirada de obstáculos ao crescimento da produção, dentre outras. A ocorrência da convergência da produtividade torna mais homogênea, do ponto de vista da modernidade, a agricultura do país. Para atingir o objetivo proposto na tese, desenvolveu-se um modelo teórico sobre convergência da produtividade da terra, tomando como base o modelo de Barro e Sala-i-Martin (1990). Quatro indicadores de convergência foram testados, os quais são: convergência- β absoluta, convergência σ...

Nos últimos anos, os impactos da poluição no meio ambiente se tornou um tema de grande relevância, uma vez que níveis desmedidos de emissões têm sido responsáveis por alterações ambientais. Muitos autores se dedicaram a estudar a relação existente entre o crescimento econômico e a poluição. Destes estudos, surgiram duas abordagens distintas: Curva Ambiental de Kuznets e convergência das emissões. A Curva Ambiental de Kuznets postula a existência de uma relação no formato U invertido entre emissões e renda. Desta forma, à medida que renda alcança um certo nível, a taxa de crescimento das emissões se reduz. Já a convergência das emissões implica em uma taxa de crescimento equilibrado no longo prazo, o que leva ao estado estacionário das emissões. Neste contexto, Brock e Taylor (2010) desenvolveram um modelo alternativo que liga estas duas metodologias. O modelo presume que, quando as emissões convergem ao estado estacionário, implicitamente ocorre o movimento descrito pela Curva Ambiental de Kuznets. O objetivo deste trabalho é estimar os dois modelos separadamente com o intuito de verificar se os resultados apontam para uma mesma direção. As estimações da CAK foram sensíveis ao modelo escolhido. Quando se utiliza a renda e a renda ao quadrado como explicativas...

Este trabalho tem como objetivo principal investigar se, após a vigência da Lei nº 11.638/2007 e da Resolução nº 3.786/2009, houve alteração no conservadorismo condicional das instituições financeiras de capital aberto que estavam listadas na BM&FBOVESPA. O estudo pretende trazer para a contabilidade das instituições financeiras contribuições relacionadas à reação desse setor específico diante das alterações normativas ocasionadas pelo processo internacional de convergência das normas contábeis. A regulação contábil, segundo a literatura internacional, fornece incentivos para que as demonstrações contábeis das empresas sejam mais conservadoras. Os órgãos reguladores estimulam a utilização do conservadorismo nas informações contábeis, uma vez que os resultados apresentados por essas demonstrações são utilizados como fonte de informação para o mercado. O conservadorismo, portanto, é considerado uma prática importante na contabilidade, pois faz parte das características qualitativas da informação contábil, que são atributos que as tornam úteis para os seus usuários. Para a medição do conservadorismo condicional foi utilizado o modelo proposto por Basu (1997), ajustado para medir os efeitos das normas em questão. Os dados que compõem as amostras foram coletados na base de dados ECONOMÁTICA...

Esta pesquisa analisa a convergência da renda per capita dos municípios do Estado de Roraima, no período compreendido entre os anos de 1999 a 2004. Para determinar a hipótese de convergência, aplicou-se os testes de β - convergência e σ -convergência e utilizou-se o método de estimação de Barro e Sala-i-Martin (1991,1992). Para este método é aplicado um modelo linear simples de mínimos quadrados ordinários da taxa de crescimento da renda per capita em relação ao logaritmo da renda per capita inicial. Os resultados denotam a existência de β -convergência absoluta entre os municípios, o que indica que as economias menos desenvolvidas cresceram mais que as mais desenvolvidas, de forma que reduziu as disparidades entre os municípios neste período. Relacionada a β -convergência condicional, foi obtido o crescimento com redução das disparidades, contudo é apresentada uma diferença ínfima em relação à β - convergência absoluta, em que a variável de controle educação, representada pela taxa de matrícula, não influenciou de forma intensa. Concernente a β - convergência, os resultados demonstraram a ocorrência de redução da dispersão da renda per capita, indicando a mesma tendência da β -convergência absoluta.; This research examines the convergence of per capita income of the municipalities of the State of Roraima...

This paper uses the stochastic approach to convergence to investigate whether real per capita GDP in Portugal has been converging to the EU15 average. The estimation accounts for conditional convergence, transitional dynamics and up to two structural breaks. It is found that per capita GDP in Portugal has indeed converged to the EU15 average, but the pace of convergence has not been uniform along time. In particular, a slow down in the convergence process is identified in 1974. This result depends, however, as to whether the choice of this break-date is viewed as uncorrelated with the data. No evidence of acceleration in the speed of convergence is found after EC accession, in 1986.; Fundação para a Ciência e a Tecnologia (FCT) - POCI/EGE/55423/2004 (partially funded by FEDER).

The European Central Bank (ECB) monetary policy has been criticised for giving more attention to price stabilisation in Europe rather than encouraging higher growth and employment. It is now largely accepted that the Maastricht norms reinforced by the Stability Pact have imposed serious macroeconomic constraints on economic performance by not taking into account specific problems of the individual economies. An interesting issue to examine is how the Maastricht obligations and the Stability Pact restrictions have affected the process of real convergence between the European economies in the last two decades. The purpose of this paper is to test for convergence in living standards, productivity, investment and unemployment among the European countries. From this analysis and using panel data estimation techniques, it is possible to detect any significant influence (favourable or not) of the Maastricht rules on real convergence.

This article focuses on convergence in terms of output per working-age person across regions in the European Union for the period 1990-2001. Controlling for the quality of national institutions, we investigate whether the status of “objective 1” region improves the speed of convergence as compared to what would be expected, given the regions’ initial conditions. We find evidence of conditional convergence among EU regions, with the quality of national institutions having a positive impact, but no evidence on a correlation between the eligibility for objective 1 and faster convergence.

Our research aims to address the problem of inequality in income distribution from a different perspective than the usual. We intend to verify if geography influences the pattern of inequality, that is, if the standard of living varies from region to region and if, in the process of growth, spatial units in Portugal have been converging in terms of most relevant variables, such as income. We search the answers to these questions by introducing the treatment of convergence between smaller territorial units, the municipalities as individuals. We intend to evaluate convergence or divergence in income growth and test empirically the theoretical hypothesis that β-convergence, although necessary, is not a sufficient condition for σ-convergence. To study convergence, we use information about GDP and wages for NUTS III regions, and wages for municipalities. We observe spatial dependence between municipalities, so we estimate spatial econometric models to test convergence. With regard to conditional convergence between municipalities, the model most appropriate is the one which includes in the explanatory variables the weight of primary sector employment...

Our research aims to address the problem of inequality in income distribution from a different perspective than the usual. We intend to verify if geography influences the pattern of inequality, that is, if the standard of living varies from region to region and if, in the process of growth, spatial units in Portugal have been converging in terms of most relevant variables, such as income. We search the answers to these questions by introducing the treatment of convergence between smaller territorial units, the municipalities as individuals. We intend to evaluate convergence or divergence in income growth and test empirically the theoretical hypothesis that β-convergence, although necessary, is not a sufficient condition for σ-convergence. To study convergence, we use information about GDP and wages for NUTS III regions, and wages for municipalities. We observe spatial dependence between municipalities, so we estimate spatial econometric models to test convergence. With regard to conditional convergence between municipalities, the model most appropriate is the one which includes in the explanatory variables the weight of primary sector employment, leading us to conclude that this variable distinguishes the "steady state" of the small economies. Variables like the activity rate and percentage of active population with higher education also reveal highly significant on the growth of wages...

Does the standard of living vary from region to region in Portugal and are spatial units in Portugal converging in income? We observe spatial error dependence between municipalities and estimate spatial econometric models to test convergence. For conditional convergence we conclude that primary sector employment, activity rate, and percentage of active population with higher education are important to distinguish the “steady state” of the regional economies, reflecting the labor market at regional level.

The conventional argument favoring capital controls elimination is based on the predictions from the neoclassical model: free international capital mobility would allow capital flows from country where capital is abundant to countries where capital is scarce and the outcome in a global perspective is efficient allocation of savings and income convergence. Within this perspective, financial integration would be particularly beneficial for developing countries resulting in external savings import, temporary increase in per-capita GDP growth rate and a permanent increase in the per-capita GDP level. Using data for a sample of 105 countries from 1980 to 2004 the evidences show that capitals flows from developing to developed countries and that international financial integration and external savings do not increase the conditional convergence rate.

We are not seeing faster progress against poverty amongst the poorest developing countries. Yet this is implied by widely accepted "stylized facts" about the development process. The paper tries to explain what is missing from those stylized facts. Consistently with models of economic growth incorporating borrowing constraints, the analysis of a new data set for 100 developing countries reveals an adverse effect on consumption growth of high initial poverty incidence at a given initial mean. A high incidence of poverty also entails a lower subsequent rate of progress against poverty at any given growth rate (and poor countries tend to experience less steep increases in poverty during recessions). Thus, for many poor countries, the growth advantage of starting out with a low mean ("conditional convergence") is lost due to their high poverty rates. The size of the middle class--measured by developing-country, not Western, standards--appears to be an important channel linking current poverty to subsequent growth and poverty reduction. However...

Vietnam grew rapidly in the 1990s, and yet by many measures it has poor economic institutions. Dollar seeks to explain this apparent anomaly. Between the 1980s and 1990s Vietnam carried out significant economic reforms, notably stabilization, the introduction of positive real interest rates, trade liberalization, and initial property rights reform in agriculture. Relating these changes to the empirical growth literature, the author finds that Vietnam's growth acceleration is about what would be predicted. Conditional convergence also suggests that the country's high growth rate will decelerate unless further reforms are taken. The author then looks at the level of institutional and policy development in Vietnam compared with other emerging market economies. While Vietnam's policies have improved, they did so starting from a very low base. So, it can be simultaneously true that Vietnam's policies have improved a lot and yet are rather poor in comparative perspective. A comparison of governance indicators...

Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan???s annual growth rates from 1969 to 2007 as conditional convergence to a steady-state rate of 1%/year. Each additional year of average adult schooling attainment raised GDP/adult directly and indirectly by 20 percent, and weekly hours worked had an output elasticity of 0.5. The marginal product of schooling was double the marginal product of physical capital.; Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan???s annual growth rates from 1969 to 2007 as conditional convergence to a steady-state rate of 1%/year. Each additional year of average adult schooling attainment raised GDP/adult directly and indirectly by 20 percent, and weekly hours worked had an output elasticity of 0.5. The marginal product of schooling was double the marginal product of physical capital.

According to Growth Theory, different economies converge to the same steadystate if saving rates, depreciation and population growth are controlled. Controlling for other variables, convergence will be conditional and not absolute. If the considered economies are regions of the same country, in long-run all of them should share the same steady-state. This paper evaluates if convergence in Peru is conditioned by geographic variables. Evidence suggests that, caused by geographical factors, Peruvian regions follow different dynamics and that there are at least two economic regimes that converge to different steady-states.

The main objective of this paper is to analyze the degree of regional economic convergence in the Southern Cone, using regional data of Argentina and Chile during the 1960-1985 period. This study found a more rapid convergence in the case of Chile than in the case of Argentina (which could be due in part to the much higher degree of openness adopted by Chile during the second part of the period analyzed here). The homogeneization of the series of GDP between both countries using purchasing power parity exchange rate, and the consideration of the behavior of the GDP per unit of labor input instead of the GDP per capita, improves substantially the fit of the Barro and Sala-i-Martin equation, when pooling the data of both countries. The "exogenous" variables used in the conditional convergence model increase substantially the estimates of the speed of convergence from 0. 71 percent up to 2 percent.

The aim of this paper is to present a further contribution to the analysis of absolute convergence (and), associated with the neoclassical theory, and conditional, associated with endogenous growth theory, of the sectoral productivity at regional level. Presenting some empirical evidence of absolute convergence of productivity for each of the economic sectors and industries in each of the regions of mainland Portugal (NUTS II and NUTS III) in the period 1986 to 1994 and from 1995 to 1999. The finest spatial unit NUTS III is only considered for each of the economic sectors in the period 1995 to 1999. They are also presented empirical evidence of conditional convergence of productivity, but only for each of the economic sectors of the NUTS II of Portugal, from 1995 to 1999. The structural variables used in the analysis of conditional convergence is the ratio of capital/output, the flow of goods/output and location ratio. The main conclusions should be noted that the signs of convergence are stronger in the first period than in the second and that convergence is conditional, especially in industry and in all sectors (1)(Martinho, 2011).

Two BPHZ convergence theorems are proved directly in Euclidean position space, without exponentiating the propagators, making use of the Cluster Convergence Theorem presented previously. The first theorem proves the absolute convergence of arbitrary BPHZ-renormalized Feynman diagrams, when counterterms are allowed for one-line-reducible subdiagrams, as well as for one-line-irreducible subdiagrams. The second theorem proves the conditional convergence of arbitrary BPHZ-renormalized Feynman diagrams, when counterterms are allowed only for one-line-irreducible subdiagrams. Although the convergence in this case is only conditional, there is only one natural way to approach the limit, namely from propagators smoothly regularized at short distances, so that the integrations by parts needed to reach an absolutely convergent integrand can be carried out, without picking up short-distance surface terms. Neither theorem requires translation invariance, but the second theorem assumes a much weaker property, called "translation smoothness". Both theorems allow the propagators in the counterterms to differ, at long distances, from the propagators in the direct terms. For massless theories, this makes it possible to eliminate all the long-distance divergences from the counterterms...

The Dirichlet divisor problem is used as a model to give a conjecture concerning the conditional convergence of the Dirichlet series of an L-function.; Comment: 4 pages

A number of studies have tested whether, globally, per capita incomes are converging over time. To date, the majority of studies find no evidence of absolute convergence, but many find evidence of conditional convergence, i.e. convergence having controlled for differences in technological and behavioural parameters. The lack of evidence of absolute convergence has led to claims that global income inequality is deteriorating. We believe this to be untrue. Most convergence studies are aimed at proving or disproving the neoclassical growth model and hence take the ‘country’ as the unit of measurement. However, if one is making inferences about world income distribution the focus should be on ‘people’ rather than ‘countries’ to prevent China and Luxembourg, for example, receiving equal weighting in the analysis. We use the β-convergence method and two different measures of per capita income and show that there is indeed evidence of income divergence between countries. However, crucially, we also find convincing evidence of income convergence if we weight our regressions by population. Thus, we find that poor peoples’ incomes are growing faster than rich peoples’ incomes, suggesting that global income inequality is in fact improving.