Globalisation and cointegration among the states and convergence across the continents: a panel data analysis
AbstractThis paper tried to examine the level of cointegration among various nations across the continents in regard to the globalisation. Also here attempt is made to analyse the nature of inter and intra continental variation in globalisation over time. The proximity and convergence over time in terms of the growth of globalisation is also examined by using a panel data set over a period of 1970 to 2007. The outcome reveals the presence of co-integration among the selected nations despite the fact that the European nations are more co-integrated than the other continents. It is followed by the countries in Africa and Asia. The proximity matrices of overall globalisation and political globalisation provided some important indications that geographical proximity, economic necessities, cultural and political understanding play crucial role in determining the clusters of countries in terms of globalisation or choice of the countries to open with other nations for trade, cultural exchange etc.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 6166.
Date of creation: 30 May 2011
Date of revision:
Globalisation; Proximity; Stationarity; Cointegration; Regional Convergence; Panel Data;
Find related papers by JEL classification:
- H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
- R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
- C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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