Conditional β-Convergence in APEC Economies, 1960–2020: Empirical Evidence from the Pooled Mean Group Estimator

César Lenin Navarro-Chávez, Julio César Morán-Figueroa and Francisco Javier Ayvar-Campos ()
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César Lenin Navarro-Chávez: Institute of Economic and Business Research, Universidad Michoacana de San Nicolás de Hidalgo, Morelia 58000, Mexico
Julio César Morán-Figueroa: Institute of Economic and Business Research, Universidad Michoacana de San Nicolás de Hidalgo, Morelia 58000, Mexico
Francisco Javier Ayvar-Campos: Institute of Economic and Business Research, Universidad Michoacana de San Nicolás de Hidalgo, Morelia 58000, Mexico

Econometrics, 2025, vol. 13, issue 1, 1-14

Abstract: The aim of this research is to analyze the impact of conditional variables—physical capital, population, and Total Factor Productivity (TFP)—on the economic convergence of the member economies of the Asia-Pacific Economic Cooperation (APEC) Forum over the period 1960–2020. This study employs a causal and correlational methodological approach, utilizing the pooled mean group (PMG) estimator within a non-experimental design framework for quantitative analysis. This methodology facilitates the estimation of conditional β-convergence, ensuring the statistical significance of estimates even in heterogeneous data panels with variables of integration order I(0) and I(1). The results indicate that physical capital, population growth, and TFP have significantly influenced the growth rates of APEC economies, contributing to economic convergence within the region during the 1960–2020 period. This study offers significant contributions by analyzing the 21 APEC economies over a 60-year period, utilizing a PMG model to estimate conditional β-convergence, and conducting comprehensive evaluations of short- and long-term trends. Consequently, the research recommends implementing policies that prioritize innovation, strengthen capital, create employment opportunities, and enhance productivity to reduce inequalities and foster sustainable growth across APEC economies.

Keywords: APEC; PMG; economic growth; conditional ?-convergence (search for similar items in EconPapers)
JEL-codes: B23 C C00 C01 C1 C2 C3 C4 C5 C8 (search for similar items in EconPapers)
Date: 2025
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