A Nonlinear Empirical Test on the Stochastic Convergence of Economic Growth: A Case Study of East Asian Economic Community

Wang Kun and An Na

International Journal of Economics and Finance, 2016, vol. 8, issue 10, 103-109

Abstract: In this paper we use the nonlinear unit root test and the replacement residual sampling, i.e. the Bootstrap method, to analyze the relative dynamic growth of GDP per capita between China and EAEC countries, observe the stochastic convergence of economy, and further divide the convergence into the long-term convergence and process convergence. The empirical results show that: compared with China, all EAEC countries¡¯ per capital output gap is characterized by the nonlinear time series and the majority of countries¡¯ in the nonlinear convergence. This gives a new perspective for the market-guided economic integration planning development, as well as reducing regional disparities.

Keywords: stochastic convergence; nonlinear; East Asian Economic Community (EAEC) (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ibn:ijefaa:v:8:y:2016:i:10:p:103-109

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