Additional Empirical Evidence on Real Convergence: A Fractionally Integrated Approach

Juncal Cuñado (), Luis Gil-Alana and Fernando Pérez de Gracia ()

No 01/03, Faculty Working Papers from School of Economics and Business Administration, University of Navarra

Abstract: This article examines the real convergence hypothesis in 15 OECD countries. For this purpose, we examine the order of integration of the real GDP per capita series in these countries as well as their differences with respect to the US which is used as a benchmark country. We use both parametric and semiparametric methods and the results show that convergence is only achieved in half of the countries, namely, Austria, Australia, Canada, Finland, Germany, Japan and the UK. On the contrary, the results for Belgium, Denmark, France, Italy, the Netherlands, Norway and Sweden show strong evidence against this hypothesis.

JEL-codes: C32 O40 O57 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2003-01-01
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Citations: View citations in EconPapers (3)

Published, Review of World Economics, 2006, vol. 142, pp. 67-91

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http://www.unav.edu/documents/10174/6546776/1132244011_wp0103.pdf (application/pdf)

Related works:
Journal Article: Additional Empirical Evidence on Real Convergence: A Fractionally Integrated Approach (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:una:unccee:wp0103

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