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Sector Growth and Convergence in Aggregate Agriculture, Manufacturing, and Services

by Crosby, Sumner M., IV

Abstract

Currently the richest countries of the world sustain an income almost seventy times that of the poorest ones. Recent literature, such as Eichengreen and Gupta (2009) and Rodrik (2012), suggest that productivity is an important determinant of growth and may explain why some nations are not catching up in the long-run, especially at the sector level. The topic of sectoral value convergence, however, has not been an area of much study. Using time series data on between 56 to 111 economies, this paper finds that absolute convergence occurred only in the manufacturing and services sectors from 1980 to 2010. When conditioned upon human capital, political infrastructure, and a number of sector specific determinants, convergence occurred across countries in agriculture, manufacturing, and services. In addition, increases in human capital are found to improve convergence effects in all three sectors.

Note

The author has given permission for this work to be deposited in the Digital Archive of Colorado College.

Colorado College Honor Code upheld.

Includes bibliographical references.

Administrative Notes

The author has given permission for this work to be deposited in the Digital Archive of Colorado College.

Colorado College Honor Code upheld.

Copyright
Copyright restrictions apply.
Publisher
Colorado College
PID
coccc:25943
Digital Origin
born digital
Extent
: illustrations
Thesis
Senior Thesis -- Colorado College
Thesis Advisor
de Araujo, Pedro
Department/Program
Department of Economics and Business
Degree Name
Bachelor of Arts
Degree Type
bachelor
Degree Grantor
Colorado College
Date Issued
2016-05