Structural breaks and real convergence in OPEC countries
Juncal Cuñado ()
Journal of Applied Economics, 2011, vol. 14, 101-117
This article examines the real convergence hypothesis in OPEC countries (Algeria, Angola, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela) using time series techniques and allowing for structural breaks. The main results show lack of support for income convergence in OPEC countries. We only find evidence of catch-up with the U.S. economy for the case of Indonesia, and for Angola in the last years of the sample. These findings are in line with the resource curse literature, which suggests that natural resource dependence inhibits economic growth. Furthermore, the results suggest that the countrys oil export dependence is negatively related with its per capita GDP growth rate.
Keywords: real convergence; unit root tests; OPEC countries; structural breaks (search for similar items in EconPapers)
JEL-codes: C32 O41 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cem:jaecon:v:14:y:2011:n:1:p:101-117
Access Statistics for this article
Journal of Applied Economics is currently edited by Germán Coloma and Mariana Conte Grand and Jorge M. Streb
More articles in Journal of Applied Economics from Universidad del CEMA Contact information at EDIRC.
Bibliographic data for series maintained by Valeria Dowding ().