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Additional Empirical Evidence on Real Convergence: A Fractionally Integrated Approach.
- Source :
- Review of World Economics; Apr2006, Vol. 142 Issue 1, p67-91, 25p, 5 Charts, 1 Graph
- Publication Year :
- 2006
-
Abstract
- We examine the real convergence hypothesis for 14 OECD countries looking at the fractional order of integration of the differences of real GDP per capita in these countries with respect to the United States. Using parametric procedures, the results vary depending on how we specify the I(0) disturbances. If they are white noise, convergence is achieved for Canada and Australia, and with autocorrelated disturbances, this hypothesis is satisfied for France and the Netherlands. However, allowing for a break at World War 11, evidence of convergence is obtained for all countries. [ABSTRACT FROM AUTHOR]
- Subjects :
- ECONOMIC convergence
GROSS domestic product
Subjects
Details
- Language :
- English
- ISSN :
- 16102878
- Volume :
- 142
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Review of World Economics
- Publication Type :
- Academic Journal
- Accession number :
- 21146940
- Full Text :
- https://doi.org/10.1007/s10290-006-0057-9