Stochastic convergence of the catch-up rate and multiple structural breaks in Asian countries

Paul Evans and Ji Uk Kim

Economics Letters, 2011, vol. 111, issue 3, 260-263

Abstract: Allowing for multiple structural breaks and cross-section dependence, we re-investigate the hypothesis that the catch-up rates stochastically converge for 13 Asian countries from 1960 to 2007. Non-rejection of stationarity provides evidence for stochastic convergence, implying that following shocks to the catch-up rate, it will eventually revert to its long-run level.

Keywords: Multiple; structural; breaks; Panel; stationarity; Stochastic; convergence; Catch-up; rate (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:111:y:2011:i:3:p:260-263

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