Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Population and Migration Location: D-105 Session Chair: Christoph Albert, University of Turin | |
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Convergence and Natural Capital 1: Colorado State University, United States of America; 2: University of Tennessee, Knoxville, United States of America Standard growth models investigating if lower income countries catch up with higher income countries consider only physical and human capital. We explore theoretically and empirically whether natural capital also affects the speed of convergence and thus the partial correlation between growth and initial income. A panel analysis for 124 countries from 1996 to 2019 examines the influence of natural capital on convergence. The results indicate that including natural capital impacts convergence directly and indirectly through its interaction with initial levels of income per capita. Convergence paths based on these estimations illustrate how the inclusion of natural capital affects these paths to the steady state. We also consider additional interactions with initial income per capita, nonlinear speeds of convergence, and consideration of the natural capital income share of GDP. Future research should explore further the potential mechanisms and influences of natural capital on the economy and its growth. | |