Testing the Convergence Hypothesis for OECD Countries: RALS Panel Fourier SURADF Unit Root Test
Veli Yilanci () and
Sosyoekonomi Journal, 2020, issue 28(44)
The main aim of this study is to improve the SURADF panel unit root test of Breur et al. (2001) by considering structural breaks and the knowledge of non-normal distrubited residuals. Chang et al. (2012) introduce a new panel unit root test by allowing smooth structural breaks in SURADF test process. In this study, we also take into account of the information of the residuals that are nonnormally distrubited. We test the validity of stochastic convergence among 18 OECD countries using this newly suggested test and find supportive evidence of convergence for only seven countries.
Keywords: Panel; Unit Root; SUR-ADF; Fourier; RALS. (search for similar items in EconPapers)
JEL-codes: C23 F15 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sos:sosjrn:200218
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