Empirical Results

Macarena Hernández-Salmerón () and Diego Romero-Ávila ()
Additional contact information
Macarena Hernández-Salmerón: Regional Government of Andalusia
Diego Romero-Ávila: Pablo de Olavide University

Chapter Chapter 4 in Convergence in Output and Its Sources Among Industrialised Countries, 2015, pp 25-44 from Springer

Abstract: Abstract This chapter investigates the existence of stochastic and deterministic convergence of real output per worker and the sources of output (physical capital per worker, human capital per worker, total factor productivity and average annual hours worked) in 21 OECD countries over the period 1970–2011. Towards this end, we apply a large battery of panel unit root and stationarity tests, all robust to the presence of cross-sectional dependence. The analysis fails to provide clear-cut evidence of convergence dynamics either in real GDP per worker or in the series of the sources of output. Except for the panel unit root tests of Choi (2002) and Moon and Perron (2004), the panel unit root statistics of Chang (2002), Smith et al. (2004), Breitung and Das (2005) and Pesaran (2007) as well as the panel stationarity tests of Hadri (2000) and Harris et al. (2005) do not generally support the convergence hypothesis.

Keywords: Stochastic convergence; Deterministic convergence; Panel unit root testing; Cross-sectional dependence (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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:spr:spbchp:978-3-319-13635-6_4

Ordering information: This item can be ordered from
http://www.springer.com/9783319136356

DOI: 10.1007/978-3-319-13635-6_4

Access Statistics for this chapter

More chapters in SpringerBriefs in Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().