# Unconditional Convergence

### Citation:

Unconditional Convergence. NBER Working Paper Series. 2011. Copy at https://j.mp/2owUBVY
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### Abstract:

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 highly significant. Because of data coverage, these findings should be as viewed as applying to the organized, formal parts of manufacturing.

### Notes:

Revised October 2011. Yes, it does exist, but you have to look for it in manufacturing industries.