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Income convergence of divergence? Study on selected Muslim countries

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  • Duasa, Jarita

Abstract

In this paper, the existence of income convergence or income divergence is investigated on ten selected OIC (the Organisation of Islamic Conference) economies. The results are then linked to the degree of openness of the countries using globalization indices. In order to investigate the existence of either income convergence or divergence between selected Islamic countries, income differentials between selected OIC countries and the benchmark country are computed and a series of test is done. The tests include stationary linearity test using Augmented Dickey-Fuller (ADF) test for linear time-series and non-linear stationary test using Kapetanois et al. (KSS) tests for non-linear time series. The findings are that most of the countries experience income divergence except for three countries. By analyzing the degree of globalization in these economies, it is found that the results support the endogeneous theory and depending approach which predict that globalization is likely to cause income divergence (inequality) rather than convergence (equality)

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11563.

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Date of creation: 2008
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Handle: RePEc:pra:mprapa:11563

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Keywords: Income convergence; globalization; linear stationary test; non-linear stationary test;

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  1. K. H. O'Rourke, 2001. "Globalization and Inequality: Historical Trends," Trinity Economics Papers 20019, Trinity College Dublin, Department of Economics.
  2. Kapetanios, George & Shin, Yongcheol & Snell, Andy, 2003. "Testing for a unit root in the nonlinear STAR framework," Journal of Econometrics, Elsevier, vol. 112(2), pages 359-379, February.
  3. n/a, 2001. "Balance of payments prospects in EMU," NIESR Discussion Papers 164, National Institute of Economic and Social Research.
  4. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, December.
  5. Venus Khim-Sen Liew & Kian-Ping Lim, 2005. "Income Divergence? Evidence of Non-linearity in the East Asian Economies," Economics Bulletin, AccessEcon, vol. 15(1), pages 1-7.
  6. Agenor, Pierre-Richard, 2002. "Does globalization hurt the poor?," Policy Research Working Paper Series 2922, The World Bank.
  7. 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.
  8. Helmut Hofer & Andreas Worgotter, 1997. "Regional Per Capita Income Convergence in Austria," Regional Studies, Taylor & Francis Journals, vol. 31(1), pages 1-12.
  9. Taylor, Mark P. & Peel, David A., 2000. "Nonlinear adjustment, long-run equilibrium and exchange rate fundamentals," Journal of International Money and Finance, Elsevier, vol. 19(1), pages 33-53, February.
  10. repec:ebl:ecbull:v:15:y:2005:i:1:p:1-7 is not listed on IDEAS
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