Is Long-Run Output Convergence Associated With International Cooperation? Some New Evidence For Selected African Countries
AbstractThis study assesses long-run real per capita income convergence among selected African countries. The empirical investigation is based on an alternative approach. Strong convergence is determined on the basis of the first largest principal component, based on income differences with respect to a chosen base country, being stationary. This qualitative outcome of the test is invariant to the choice of base country and, compared to alternative multivariate tests for long-run convergence, this methodology places less demands on limited data sets. Using annual data for the period 1960-2000, strong convergence is confirmed for the Communaute Financiere Africaine and South African Customs Union countries. An amended version of the test is unable to confirm weaker long-run convergence in the case of the Economic Community of West African States countries.
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Bibliographic InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 30 (2005)
Issue (Month): 2 (December)
Africa; Common Trends; Output Convergence;
Find related papers by JEL classification:
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- O0 - Economic Development, Technological Change, and Growth - - General
- O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
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