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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Afonso Ferreira, 2000. "Convergence in Brazil: recent trends and long-run prospects," Applied Economics, Taylor and Francis Journals, vol. 32(4), pages 479-489.
- Pasaran, M.H. & Im, K.S. & Shin, Y., 1995.
"Testing for Unit Roots in Heterogeneous Panels,"
Cambridge Working Papers in Economics
9526, Faculty of Economics, University of Cambridge.
- David Fielding & Kalvinder Shields, 2000.
"Modeling Macroeconomic Shocks in the CFA Franc Zone,"
Discussion Papers in Economics
00/7, Department of Economics, University of Leicester.
- Fielding, David & Shields, Kalvinder, 2001. "Modelling macroeconomic shocks in the CFA Franc Zone," Journal of Development Economics, Elsevier, vol. 66(1), pages 199-223, October.
- Chihwa Kao & Suzanne McCoskey, 1997.
"A Residual-Based Test Of The Null Of Cointegration In Panel Data,"
- Suzanne McCoskey & Chihwa Kao, 1998. "A residual-based test of the null of cointegration in panel data," Econometric Reviews, Taylor and Francis Journals, vol. 17(1), pages 57-84.
- S. Dobson & C. Ramlogan, 2002. "Economic Growth and Convergence in Latin America," The Journal of Development Studies, Taylor and Francis Journals, vol. 38(6), pages 83-104.
- Mills, Terence C & Holmes, Mark J, 1999. "Common Trends and Cycles in European Industrial Production: Exchange Rate Regimes and Economic Convergence," Manchester School, University of Manchester, vol. 67(4), pages 557-87, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kyttack Hong).
If references are entirely missing, you can add them using this form.