Are OECD Countries Converging in Export Diversification? Evidence from PANIC-Fourier Panel Unit Root Test

Halil Ozekicioglu, Huseyin Topuz (), Hasan Kazak, Cuneyt Kilic and Ahmet Tayfur Akcan
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Halil Ozekicioglu: Department of International Trade and Logistics, Akdeniz University, Antalya 07070, Turkey
Huseyin Topuz: Department of International Trade and Logistics, Akdeniz University, Antalya 07070, Turkey
Hasan Kazak: Department of Accounting and Financial Management, Necmettin Erbakan University, Konya 42090, Turkey
Cuneyt Kilic: Department of Economic Theory, Canakkale Onsekiz Mart University, Canakkale 17020, Turkey
Ahmet Tayfur Akcan: Department of International Trade and Finance, Necmettin Erbakan University, Konya 42090, Turkey

Sustainability, 2025, vol. 17, issue 2, 1-21

Abstract: This study examines whether OECD countries have converged over time in terms of export diversification. Focusing on the period 1995–2023, the study employs a new Fourier function-enhanced panel unit root test that takes into account gradual changes instead of sudden breaks. The findings show that more than half of OECD countries have not converged in terms of export diversification. Export diversification plays an important role in achieving economic growth and development as well as long-term sustainability goals. In this context, the study provides critical data for policymakers in support of sustainable development goals. The results point to the need to reassess the economic and environmental impacts of export diversification policies in OECD countries.

Keywords: export diversification; convergence; PANIC unit root test; PANIC-Fourier unit root test; OECD; sustainable development; trade policy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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