Regional Convergence in Knowledge-based Economy
Autumn 2011 & Winter 2012, Volume 39 - Number 2 علمی-پژوهشی (وزارت علوم)/ISC (6 صفحه - از 63 تا 68)
Nowadays, the world economies are rapidly moving towards being more Knowledge-based Economy (KBE) and supporting the force of knowledge as a vital component of economic growth. This recent acceleration in the transition to Knowledge-based Economy in the world, has affected regional economic performance. In this paper, we surveyed the regional convergence in Knowledge-based Economy for selected Asia and pacific countries. We used a growth model in Barro and Sala-i-Martin framework (1995) for the period of 1995-2009. It includes a panel data set consisting of the annual growth rate of GDP per capita for selected Asia and pacific countries and a group of indicators that define the situation of Knowledge-based Economy in countries. The empirical results indicate that the absolute and the conditional convergence are not rejected for selected countries. The investigation on robustness of the model results confirms the existence of regional convergence for studied countries.خلاصه ماشینی:
"It includes a panel data set consisting of the annual growth rate of GDP per capita for selected Asia and pacific countries and a group of indicators that define the situation of Knowledge-based Economy in countries. Table 1: Summary of regional convergence studies in Asia and pacific countries Economies Studies Sample Period Results Methodological Approaches Asia and pacific region Park(2003) 1960-2000 Convergence Theil inequality Japan Barro and Sala-I-Martin(1992) 1930-1987 Convergence Barro regression Yamamura and Shin(2008) 1995-1998 Convergence Korea Koo, Kim and Kim (1998) 1967-1992 Convergence Barro regression Malaysia Togo(2000) 1970-1995 Divergence σ convergence Indonesia Takeda and Nakata (1998) 1976-1995 Divergence after 1985 Coefficient of variation China Zhang and et. 4. Model Specification In order to survey the regional convergence in knowledge-based economy in panel data regressions, we use the empirical framework suggested by Barro and Sala-I-Martin (1995). Source: Authors Table (2) reports the results obtained from the estimations of the convergence equation by using panel data for the 20 Asia and pacific countries for the period 1995–2009. When conditional convergence is tested by controlling the variables suggested by Barro and Sala-I-Martin (2004) and KBE variable, the convergence coefficient is negative, as indicate in models 2–6 of Table 2."
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