Economic Growth and Convergence Across the Seven Colonies of Australasia: 1861–1991*

Abstract

Have the poor economies of Australasia grown faster than the rich ones? This question is analyzed for the seven colonies of Australasia for the period 1861–1991, and it is found that the levels of per‐capita income across the colonies are converging to one another: the initially poor colonies have indeed grown faster. The cross‐sectional dispersion of per‐capita incomes also declined between 1861–1991, but most of this decline occurred in the pre‐Federation 1861–1901 period, as the extent of dispersion in 1991 is very close to that attained in 1901.

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