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New Evidence on the Convergence of International Income from a Group of 29 Countries

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John W. Dawson
Amit Sen

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Abstract

This paper updates and extends the time-series evidence on the convergence of international incomes using a set of 29 countries over the period 1900-2001. Time-series tests for stochastic convergence are supplemented with tests which provide evidence on the notion of "Beta-convergence" predicted by the Solow model. The evidence indicates that the relative income series of 21 countries are consistent with stochastic convergence, and that Beta-convergence has occurred in at least 17 countries at some point over the 1900-2001 period. Further examination of the properties of the Beta- convergence test provides anecdotal evidence of conditional convergence during the post-war period in seven countries for which the convergence hypothesis was initially rejected. Analysis of the cross-country dispersion of incomes over time also suggests that convergence has occurred over the 1900-2001 period, with structural breaks associated with World War II in many countries causing a break in the convergence process.

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Paper provided by Department of Economics, Appalachian State University in its series Working Papers with number 05-22.

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Date of creation: 2005
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Publication status: forthcoming, Empirical Economics
Handle: RePEc:apl:wpaper:05-22

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  2. Ben-David, Dan, 1994. "Convergence Clubs and Diverging Economies," CEPR Discussion Papers 922, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  3. Strazicich, Mark C. & Lee, Junsoo & Day, Edward, 2004. "Are incomes converging among OECD countries? Time series evidence with two structural breaks," Journal of Macroeconomics, Elsevier, vol. 26(1), pages 131-145, March. [Downloadable!] (restricted)
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  6. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December. [Downloadable!] (restricted)
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  8. Chris Murray & Eric Zivot, 1998. "Inference on Unit Roots and Trend Breaks in Macroeconomic Time Series," Working Papers UWEC-2005-04, University of Washington, Department of Economics. [Downloadable!]
  9. Perron, Pierre & Vogelsang, Timothy J, 1992. "Nonstationarity and Level Shifts with an Application to Purchasing Power Parity," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(3), pages 301-20, July.
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  10. Perron, Pierre, 1997. "Further evidence on breaking trend functions in macroeconomic variables," Journal of Econometrics, Elsevier, vol. 80(2), pages 355-385, October. [Downloadable!] (restricted)
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  11. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  12. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-51, April. [Downloadable!] (restricted)
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  13. Sen, Amit, 2003. "On Unit-Root Tests When the Alternative Is a Trend-Break Stationary Process," Journal of Business & Economic Statistics, American Statistical Association, vol. 21(1), pages 174-84, January.
  14. Michael L. Nieswiadomy & Mark C. Strazicich, 2004. "Are Political Freedoms Converging?," Economic Inquiry, Oxford University Press, vol. 42(2), pages 323-340, April. [Downloadable!] (restricted)
  15. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June. [Downloadable!] (restricted)
  16. Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December. [Downloadable!] (restricted)
  17. Li, Qing & Papell, David, 1999. "Convergence of international output Time series evidence for 16 OECD countries," International Review of Economics & Finance, Elsevier, vol. 8(3), pages 267-280, September. [Downloadable!] (restricted)
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  1. Josep Lluís Carrion-i-Silvestre & Vicente German-Soto, 2008. "Panel Data Stochastic Convergence Analysis of the Mexican Regions," IREA Working Papers 200805, University of Barcelona, Research Institute of Applied Economics, revised Apr 2008. [Downloadable!]
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