Income convergence: fresh evidence from the Nordic countries

Venus Liew and Yusuf Ahmad

MPRA Paper from University Library of Munich, Germany

Abstract: Using the recently developed linearity test and non-linear unit root test, this study shows that the income gaps of Finland, Norway and Sweden with respect to Denmark are non-linear but stationary with no significant trend effect, implying the Nordic countries have already attained steady state of income equality, a state beyond catching up as identified earlier in Oxley and Greasley (1999). This fresh evidence strengthens the finding of Nordic Convergence Club by these authors.

Keywords: Income Convergence; Nordic Countries; Nonlinear; Linearity; Catching Up; Long-run convergence (search for similar items in EconPapers)
JEL-codes: C12 F43 O10 (search for similar items in EconPapers)
Date: 2006, Revised 2007-03
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