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Stochastic convergence of the catch-up rate and multiple structural breaks in Asian countries

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  • Evans, Paul
  • Kim, Ji Uk

Abstract

Allowing for multiple structural breaks and cross-section dependence, we re-investigate the hypothesis that the catch-up rates stochastically converge for 13 Asian countries from 1960 to 2007. Non-rejection of stationarity provides evidence for stochastic convergence, implying that following shocks to the catch-up rate, it will eventually revert to its long-run level.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 111 (2011)
Issue (Month): 3 (June)
Pages: 260-263

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Handle: RePEc:eee:ecolet:v:111:y:2011:i:3:p:260-263

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Web page: http://www.elsevier.com/locate/ecolet

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Keywords: Multiple structural breaks Panel stationarity Stochastic convergence Catch-up rate;

References

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  11. Maddala, G S & Wu, Shaowen, 1999. " A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 631-52, Special I.
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Cited by:
  1. Johan Lyhagen & Johanna Rickne, 2014. "Income inequality between Chinese regions: newfound harmony or continued discord?," Empirical Economics, Springer, vol. 47(1), pages 93-110, August.

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