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.

New Evidence on the Convergence of International Income from a Group of 29 Countries

COSTANTINI M;
2012-01-01

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.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11697/135937
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