IDEAS home Printed from https://ideas.repec.org/a/eee/inteco/v156y2018icp77-85.html
   My bibliography  Save this article

Re-examination of the convergence hypothesis among OECD countries: Evidence from Fourier quantile unit root test

Author

Listed:
  • Bahmani-Oskooee, Mohsen
  • Chang, Tsangyao
  • Elmi, Zahra (Mila)
  • Ranjbar, Omid

Abstract

In this paper we revisit the convergence hypothesis among OECD countries. Unlike previous research which relied upon conventional unit root tests to determine if per capita real income in each country converge toward the real per capita income of a benchmark level, we employ recently introduced quantile unit root testing procedure which also accounts for multiple and unknown structural breaks via a Fourier expansion series. Our results indicate that the negative shocks due to World wars I and II and/or financial crises have transitory effects in countries such as Japan and Germany, while in other countries like Italy and France they have permanent effects.

Suggested Citation

  • Bahmani-Oskooee, Mohsen & Chang, Tsangyao & Elmi, Zahra (Mila) & Ranjbar, Omid, 2018. "Re-examination of the convergence hypothesis among OECD countries: Evidence from Fourier quantile unit root test," International Economics, Elsevier, vol. 156(C), pages 77-85.
    • Handle: RePEc:eee:inteco:v:156:y:2018:i:c:p:77-85
    DOI: 10.1016/j.inteco.2017.12.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2110701717301415
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.inteco.2017.12.002?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lee, Yi-Lung & Ranjbar, Omid & Jahangard, Fateme & Chang, Tsangyao, 2020. "Analyzing slowdown and meltdowns in the African countries: New evidence using Fourier quantile unit root test," International Review of Economics & Finance, Elsevier, vol. 65(C), pages 187-198.

    More about this item

    Keywords

    Convergence; Quantile unit root test; Fourier expansion; OECD;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:inteco:v:156:y:2018:i:c:p:77-85. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/21107017 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.