Real convergence in some emerging countries: a fractionally integrated approach
AbstractThis article exanines the real convergence hypothesis in eleven emerging countries by means of fractionally integrated techniques. For this purpose, we examine the order of integration of the real GDP per capita series in Argentina. Brazil, Chile, Colombia, Mexico, Peru, Venezuela, India, Indonesia, Taiwan and South Korea as well as their differences with respect to the US and Japan. We find evidence of smaller degrees of integration in the differenced series only for sorne of the Latin American countries with respect to the US, and for ail the Asian countries with respect to both the US and Japan. However, we only find evidence of real convergence for the cases of Argentina and Chile with respect to the US, and Taiwan with respect to Japan. suggesting thus the possibility of different convergence clubs among both Latin American and Asian countries.
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Bibliographic InfoArticle provided by De Boeck Université in its journal Recherches économiques de Louvain.
Volume (Year): 73 (2007)
Issue (Month): 3 ()
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Other versions of this item:
- J. Cunado & L.A. Gil-Alana & F. Perez De Gracia, 2007. "Real convergence in some emerging countries : a fractionally integrated approach," Discussion Papers (REL - Recherches Economiques de Louvain) 2007034, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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