New evidence on the convergence of international income from a group of 29 countries

Mauro Costantini and Amit Sen

Applied Economics Letters, 2012, vol. 19, issue 5, 425-429

Abstract: We evaluate the empirical evidence regarding stochastic convergence in income across a group of 29 countries. Our results are based on a new unit root test developed by Popp (2008) that estimates the break-date more accurately and does not suffer from size distortions in the presence of a break. Our results reveal considerably less evidence of stochastic convergence compared with previous studies.

Date: 2012
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DOI: 10.1080/13504851.2011.581204

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