Panel Unit‐Root Tests of OECD Stochastic Convergence

Adrian Fleissig and Jack Strauss

Review of International Economics, 2001, vol. 9, issue 1, 153-162

Abstract: This paper uses three panel unit‐root tests and finds that real per capita GDP for OECD countries and a European subsample converge stochastically for the period 1948–87 but not for the entire sample of 1900–87. For the postwar period, the differential in income gaps or speed of adjustment is eliminated at an annual rate of 4–8% for OECD economies, and 6–9% for European economies.

Date: 2001
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