Determinantes do crescimento econômico e padrões de convergência de renda na economia global do pós-guerra fria : uma análise quantitativa do período 1989-2019

Abstract

The present work intends to help in the understanding of the economic patterns in the Post-Cold War era, characterized by the deepening in the globalization process and the commercial and financial integration. The world economy will be analyzed as a whole, and then categorized by income levels and geographic subregions for comparative purposes. Despite the greater integration of markets since the collapse of the communism, there is no evidence of higher rate of β-convergence than that found in XX century. Higher convergence rates have been found among upper-middle-income and lower-middle-income countries when compared with the high-income and low-income economies, making the convergence pattern by income the shape of an inverted U. σ-convergence, in turn, has a different result – although there is a drop in all income groups analyzed, there is a pronounced stability and income cohesion in regions of low income countries, known by the lack of integration with the international economy. Emergent and developed economies present greater chance of income dispersion, highlighting the greater volatility brought by economic integration.