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| Author: | Razin, A. Yuen, C-W. |
| Title: | Income convergence within an economic union: the role of factor mobility and coordination. |
| Journal: | Journal of Public Economics
1997 : NOV, VOL. 66:2, p. 225-245 |
| Index terms: | INCOME DISTRIBUTION LABOUR MOBILITY HUMAN CAPITAL ECONOMIC INTEGRATION |
| Language: | eng |
| Abstract: | The authors show the assential role of labor mobility in equalizing income levels for countries that start off from different initial income positions in the context of a human-capital-based growth model. Human capital externalities cum labor mobility are driven forces behind the income level equalization process. 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. |
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