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Testing the Convergence Hypothesis

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Lichtenberg, Frank R

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Abstract

The authors show that, contrary to the beliefs of some previous analysts of international economic growth, the hypotheses of convergence and of mean-reversion are not equivalent. Under some assumptions, the rate of convergence is independent of the degree of mean-reversion; under other assumptions, mean-reversion is a necessary, but not a sufficient, condition for convergence. The authors show the relationship between the convergence test and the mean-reversion test and provide an empirical example in which the null hypothesis of no mean-reversion is rejected but the null hypothesis of no convergence is not rejected. Copyright 1994 by MIT Press.

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Publisher Info
Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 76 (1994)
Issue (Month): 3 (August)
Pages: 576-79
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Handle: RePEc:tpr:restat:v:76:y:1994:i:3:p:576-79

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  1. Panos Fousekis, 2008. "Price Convergence in the EU Poultry and Eggs Markets," Economics Bulletin, Economics Bulletin, vol. 3(18), pages 1-11. [Downloadable!]
  2. Peroni, Marco & Brasili, Cristina & Fanfani, Roberto, 2006. "Long Term Structural Changes in the EU Countries (1970-2000): Convergence or Divergence in the Agri-Food System?," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25659, International Association of Agricultural Economists. [Downloadable!]
  3. Frank C. Lee, 1996. "Economic Growth Of Oecd Countries: Focusing On Canada," International Economic Journal, Korean International Economic Association, vol. 10(2), pages 105-119, June. [Downloadable!] (restricted)
  4. Yingqi Wei & Xiaming Liu & Haiyan Song & Peter Romilly, 2001. "Endogenous innovation growth theory and regional income convergence in China," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(2), pages 153-168. [Downloadable!]
  5. Michael Grimm, 2005. "Removing the anonymity axiom in assessing pro-poor growth," Ibero America Institute for Econ. Research (IAI) Discussion Papers 113, Ibero-America Institute for Economic Research. [Downloadable!]
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  6. Quatraro Francesco, 2006. "Mind the gap: Convergence of technology and technology of convergence in italian regions, 1982-2001," Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo 200603, University of Turin. [Downloadable!]
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  7. Brasili, Cristina & Fanfani, Roberto, 2002. "Long Term Structural Changes in the EU Countries (1970-2000): Convergence or Divergence in the Agri-Food System?," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24962, European Association of Agricultural Economists. [Downloadable!]
  8. Heshmati, Almas, 2004. "Growth, Inequality and Poverty Relationships," IZA Discussion Papers 1338, Institute for the Study of Labor (IZA). [Downloadable!]
  9. Ann Harrison, 1995. "Openness and Growth: A Time-Series, Cross-Country Analysis for Developing Countries," NBER Working Papers 5221, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Paudel, Krishna P. & Sambidi, Pramod & Sulgham, Anil, 2004. "A Theoretical Development And Empirical Test On The Convergence Of Agricultural Productivity In The Usa," 2004 Annual meeting, August 1-4, Denver, CO 20175, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  11. Kankana Mukherjee & Subhash C. Ray, 2004. "Technical Efficiency and Its Dynamics in Indian Manufacturing: An Inter-State Analysis," Working papers 2004-18, University of Connecticut, Department of Economics. [Downloadable!]
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  12. Lee Kian Lim & Michael McAleer, 2003. "Convergence and Catching Up in ASEAN: A Comparative Analysis," CIRJE F-Series CIRJE-F-218, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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  13. FRÉDÉRIC CARLUER, 2005. "Dynamics of Russian regional clubs: The time of divergence," Regional Studies, Taylor and Francis Journals, vol. 39(6), pages 713-726, August. [Downloadable!] (restricted)
  14. Lee Kian Lim, 2000. "Convergence and Catching Up in South-East Asia: A Comparative Analysis," Econometric Society World Congress 2000 Contributed Papers 1844, Econometric Society. [Downloadable!]
  15. Martin A. Carree & Luuk Klomp & A. Roy Thurik, 1999. "Productivity Convergence in OECD Manufacturing Industries," Tinbergen Institute Discussion Papers 99-065/3, Tinbergen Institute. [Downloadable!]
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