International Output Convergence: Evidence from an AutoCorrelation Function Approach

Giovanni Caggiano and L Leonida

Working Papers from Department of Economics, University of Glasgow

Abstract: This paper uses an AutoCorrelation Function approach to develop new tests for international output convergence. Using per capita GDP for 15 OECD countries observed over a century, we find that the hypothesis of conditional convergence is unsupported; that, the United States apart, the linearized neoclassical growth model fails to replicate the transitional dynamics of OECD economies; and that these economies do not behave like a club.

Keywords: Autocorrelation Function; Convergence; Neoclassical Growth Model (search for similar items in EconPapers)
JEL-codes: C22 N10 O40 (search for similar items in EconPapers)
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Related works:
Journal Article: International output convergence: evidence from an autocorrelation function approach (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:gla:glaewp:2006_20

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