Empirical studies emphasising supply factors argue that poor countries as a whole show a catching up tendency of rich countries as a whole. We offer a demand side SAM model to highlight the convergence in economic growth. The model predicts, after adjusting for peculiarities of economic systems,...

The paper introduces the social accounting matrix, SAM, and treats the conversion of the SAM into an economy wide model that employs fixed relative prices and clears market imbalances via flexible quantities. The paper reviews multiplier results relating to the trade-off between economic growth...

The relation between infrastructure and economic growth has been largely investigated in the literature, but the empirical evidence found has proven to be controversial. This paper aims to empirically analyze the impact of infrastructure stocks on economic growth. In spite of there being...