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Segmented stochastic convergence across the G-7 countries
Roberto Cellini ()
Antonello Eugenio Scorcu , 2000, vol. 25, issue 3, pages 463-474
Empirical Economics Abstract:
This paper analyzes the stochastic convergence in per capita income levels among the current G-7 over the period 1900-89. We show that, in the presence of possible structural breaks, the strong condition of stationary pair-wise differences between per capita GDP holds in more cases than previously supposed. However, convergence occurs more frequently in the first part of the time sample than in the second one.
Keywords: Cointegration; ·; structural; break; ·; stochastic; convergence (search for similar items in EconPapers)
JEL-codes: O41 (search for similar items in EconPapers)
Note: received: June 1999 / Final version accepted: Feb. 2000
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