Convergence in International Output

Andrew Bernard and Steven Durlauf

Journal of Applied Econometrics, 1995, vol. 10, issue 2, 97-108

Abstract: This paper proposes and tests new definitions of convergence and common trends for per capita output. We define convergence for a group of countries to mean that each country has identical long-run trends, either stochastic, while common trends allow for proportionality of the stochastic elements. These definitions lead naturally to the use of cointegration techniques in testing. Using century-long time series for 15 OECD economies, we reject convergence but find substantial evidence for common trends. Smaller samples of European countries also reject convergence but are driven by a lower number of common stochastic trends. Copyright 1995 by John Wiley & Sons, Ltd.

Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (633)

Downloads: (external link)
http://links.jstor.org/sici?sici=0883-7252%2819950 ... 0.CO%3B2-6&origin=bc full text (application/pdf)
http://qed.econ.queensu.ca:80/jae/1995-v10.2/ Supporting data files and programs (text/html)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
Working Paper: Convergence in International Output (1993)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jae:japmet:v:10:y:1995:i:2:p:97-108

Ordering information: This journal article can be ordered from
http://www3.intersci ... e.jsp?issn=0883-7252

Access Statistics for this article

Journal of Applied Econometrics is currently edited by M. Hashem Pesaran

More articles in Journal of Applied Econometrics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing () and Christopher F. Baum ().