Unconditional Convergence [chapter]

Introduction to Banach Spaces: Analysis and Probability  
Unlike economies as a whole, manufacturing industries exhibit unconditional convergence in labor productivity. The paper documents this finding for 4-digit manufacturing sectors for a large group of developed and developing countries over the period since 1990. The coefficient of unconditional convergence is estimated quite precisely and is large, at 3.0-5.6 percent per year depending on the estimation horizon. The result is robust to a large number of specification tests, and statistically
more » ... ly significant. Because of data coverage, these findings should be as viewed as applying to the organized, formal parts of manufacturing.
doi:10.1017/cbo9781316675762.007 fatcat:lkvqemspyfe2ve4qubhpuebupq