Analyzing the effect of financial development and trade openness on income convergence

Omid Ranjbar () and Zahra (Mila) Elmi ()
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Zahra (Mila) Elmi: University of Mazandaran

Economics Bulletin, 2015, vol. 35, issue 4, 2595-2600

Abstract: In this paper, we analyze the effects of financial development and trade openness on income convergence via the application of pooled fractional probit model that developed by Papke and Wooldridge (2008). Our results confirm the hypothesis that trade openness accelerate the income convergence. Also we found financial development acts as a convergence factor only for financially middle advanced countries.

Keywords: Convergence; Fractional response; Probit; Trade openness; Financial development (search for similar items in EconPapers)
JEL-codes: C2 O4 (search for similar items in EconPapers)
Date: 2015-12-13
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