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This paper provides empirical estimates of the impact of domestic regulations and structural policies on income convergence in APEC economies since 1989. It is concluded that structural policies can reduce the ‘half-life’ of complete income convergence from about a century to a matter of a single generation. It also analyses the recent shift in focus of APEC to place greater emphasis on structural policies in promoting regional economic integration.
[1] *Victoria University of Wellington, bob.buckle@vuw.ac.nz; **The Treasury, New Zealand. The views expressed in this paper are those of the authors and do not necessarily reflect the views of The Treasury.