Output convergence revisited: new time series results on industrialized countries

Ruey Yau and C. Hueng

Applied Economics Letters, 2007, vol. 14, issue 1, 75-77

Abstract: Cross-country output convergence is re-examined using a flexible concept of unit roots. While the presence of a constant unit root in output-differences implies nonconvergence, the presence of a stochastic unit root on the contrary implies convergence. Using the output-differences between the USA and the other 14 OECD countries, we find output divergence only for the USA/UK and USA/Sweden country-pairs.

Date: 2007
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DOI: 10.1080/13504850500425543

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