Testing economic convergence in non-stationary panel
Abdou-Aziz Niang ()
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Abdou-Aziz Niang: University of Ziguinchor
Statistical Methods & Applications, 2017, vol. 26, issue 1, 135-156
Abstract This paper emphasizes the role of Panel Analysis of Nonstationarity in the Idiosyncratic and Common components (PANIC) in purging effects of cross-country correlation and structural instability from the convergence equation. In doing so, we run some simulations to show that, in addition to controlling correlations, PANIC handles the presence of a single structural change naturally and then solves the problems of low power that it generates. Applications are also conducted using a sample of 20 OECD member countries and 20 countries in Sub-Saharan Africa.
Keywords: Unit root; Factor model; Structural change; $$\beta $$ β -Convergence (search for similar items in EconPapers)
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