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Article: Income convergence within an economic union: The role of factor mobility and coordination

TitleIncome convergence within an economic union: The role of factor mobility and coordination
Authors
KeywordsCapital mobility
Cross-country income equality
E21
E32
Education subsidies
F33
H30
Human capital externalities
Labor mobility
O30
O40
Issue Date1997
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jpube
Citation
Journal Of Public Economics, 1997, v. 66 n. 2, p. 225-245 How to Cite?
AbstractIn the context of a human-capital-based growth model, we show the essential role of labor mobility in equalizing income levels for countries that start off from different initial income positions. Human capital externalities cum labor mobility are the driving forces behind the income level equalization process. In a non-cooperative equilibrium, labor mobility will be limited and income level equality will not be achieved. Coordination will allow free mobility of labor within an economic union, leading to income convergence. Coordination of educational policies will also help internalize the inter-regional human capital externalities to ensure efficient growth for members of the union.
Persistent Identifierhttp://hdl.handle.net/10722/85711
ISSN
2015 Impact Factor: 1.44
2015 SCImago Journal Rankings: 2.267
References

 

DC FieldValueLanguage
dc.contributor.authorRazin, Aen_HK
dc.contributor.authorYuen, CWen_HK
dc.date.accessioned2010-09-06T09:08:18Z-
dc.date.available2010-09-06T09:08:18Z-
dc.date.issued1997en_HK
dc.identifier.citationJournal Of Public Economics, 1997, v. 66 n. 2, p. 225-245en_HK
dc.identifier.issn0047-2727en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85711-
dc.description.abstractIn the context of a human-capital-based growth model, we show the essential role of labor mobility in equalizing income levels for countries that start off from different initial income positions. Human capital externalities cum labor mobility are the driving forces behind the income level equalization process. In a non-cooperative equilibrium, labor mobility will be limited and income level equality will not be achieved. Coordination will allow free mobility of labor within an economic union, leading to income convergence. Coordination of educational policies will also help internalize the inter-regional human capital externalities to ensure efficient growth for members of the union.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jpubeen_HK
dc.relation.ispartofJournal of Public Economicsen_HK
dc.rightsJournal of Public Economics. Copyright © Elsevier BV.en_HK
dc.subjectCapital mobilityen_HK
dc.subjectCross-country income equalityen_HK
dc.subjectE21en_HK
dc.subjectE32en_HK
dc.subjectEducation subsidiesen_HK
dc.subjectF33en_HK
dc.subjectH30en_HK
dc.subjectHuman capital externalitiesen_HK
dc.subjectLabor mobilityen_HK
dc.subjectO30en_HK
dc.subjectO40en_HK
dc.titleIncome convergence within an economic union: The role of factor mobility and coordinationen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0047-2727&volume=66&spage=225&epage=245&date=1997&atitle=Income+Convergence+Within+An+Economic+Union:+The+Role+of+Factor+Mobility+and+Coordinationen_HK
dc.identifier.emailYuen, CW: cwyuen@hku.hken_HK
dc.identifier.authorityYuen, CW=rp01123en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/S0047-2727(97)00040-6-
dc.identifier.scopuseid_2-s2.0-0031279867en_HK
dc.identifier.hkuros35886en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0031279867&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume66en_HK
dc.identifier.issue2en_HK
dc.identifier.spage225en_HK
dc.identifier.epage245en_HK
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridRazin, A=7102906968en_HK
dc.identifier.scopusauthoridYuen, CW=7101633296en_HK

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