We evaluate the empirical evidence regarding stochastic convergence in income across a group of 29 countries. Our results are based on a new unit root test developed by Popp (2008) that estimates the break-date more accurately and does not suffer from size distortions in the presence of a break. Our results reveal considerably less evidence of stochastic convergence compared with previous studies.
New Evidence on the Convergence of International Income from a Group of 29 Countries / Costantini, M; Sen, A. - In: APPLIED ECONOMICS LETTERS. - ISSN 1350-4851. - 19:(2012), pp. 425-429. [10.1080/13504851.2011.581204]
New Evidence on the Convergence of International Income from a Group of 29 Countries
COSTANTINI M;
2012
Abstract
We evaluate the empirical evidence regarding stochastic convergence in income across a group of 29 countries. Our results are based on a new unit root test developed by Popp (2008) that estimates the break-date more accurately and does not suffer from size distortions in the presence of a break. Our results reveal considerably less evidence of stochastic convergence compared with previous studies.File allegati a questo prodotto
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