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Testing For Convergence in Output and in 'Well-Being' in Industrialized Countries

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Abstract

There is now an extensive empirical literature relating to tests for various forms of convergence between the real per capita outputs of different countries. The evidence from these tests is mixed, and depends upon the type of data used, the countries in question, and the sample period in question. However, very little attention has been paid to the possibility of an associated convergence in "well-being" across countries. Indeed, it is interesting to posit the lack of any connection between convergence in output (income) and convergence in "well-being". In this paper we address this issue in the context of fourteen OECD economies, using various measures of "well-being", and different tests of convergence. The latter include a time-series test recently proposed by Nahar and Inder (2002), and a test based on fuzzy clustering proposed by Giles (2001). Our findings indicate that in general one should not expect convergence in output to be associated with convergence in "well-being".

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Bibliographic Info

Paper provided by Department of Economics, University of Victoria in its series Econometrics Working Papers with number 0302.

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Length: 30 pages
Date of creation: 08 Apr 2003
Date of revision:
Handle: RePEc:vic:vicewp:0302

Note: ISSN 1485-6441
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Keywords: Convergence; well-being indicators; time-series analysis; fuzzy clustering;

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References

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  1. Bernard, Andrew B & Durlauf, Steven N, 1995. "Convergence in International Output," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 10(2), pages 97-108, April-Jun.
  2. John G. Cragg & Russell S. Uhler, 1970. "The Demand for Automobiles," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 3(3), pages 386-406, August.
  3. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, American Economic Association, vol. 76(5), pages 1072-85, December.
  4. Xavier Sala-i-Martin, 1995. "The classical approach to convergence analysis," Economics Working Papers 117, Department of Economics and Business, Universitat Pompeu Fabra.
  5. David E. A. Giles & Robert Draeseke, 2001. "Econometric Modelling based on Pattern recognition via the Fuzzy c-Means Clustering Algorithm," Econometrics Working Papers, Department of Economics, University of Victoria 0101, Department of Economics, University of Victoria.
  6. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
  7. Lars Osberg & Andrew Sharpe, 2002. "International Comparisons of Trends in Economic Well-being," Social Indicators Research, Springer, Springer, vol. 58(1), pages 349-382, June.
  8. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  9. Jen-Je Su, 2003. "Convergence clubs among 15 OECD countries," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 10(2), pages 113-118.
  10. Harvey, A. & Bates, D., 2003. "Multivariate Unit Root Tests and Testing for Convergence," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 0301, Faculty of Economics, University of Cambridge.
  11. Evans, Paul & Karras, Georgios, 1996. "Convergence revisited," Journal of Monetary Economics, Elsevier, Elsevier, vol. 37(2-3), pages 249-265, April.
  12. Osberg, Lars & Sharpe, Andrew, 2002. "An Index of Economic Well-Being for Selected OECD Countries," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(3), pages 291-316, September.
  13. David EA Giles, 2005. "Output Convergence and International Trade: Time-Series and Fuzzy Clustering Evidence for New Zealand and her Trading Partners, 1950 - 1992," The Journal of International Trade & Economic Development, Taylor & Francis Journals, Taylor & Francis Journals, vol. 14(1), pages 93-114.
  14. Greasley, David & Oxley, Les, 1997. "Time-series based tests of the convergence hypothesis: Some positive results," Economics Letters, Elsevier, Elsevier, vol. 56(2), pages 143-147, October.
  15. Hobijn, Bart & Franses, Philip Hans, 2001. "Are living standards converging?," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 12(2), pages 171-200, July.
  16. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 12(2-3), pages 231-254.
  17. Bart Hobijn & Philip Hans Franses, 2000. "Asymptotically perfect and relative convergence of productivity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 15(1), pages 59-81.
  18. David E. A. Giles, 2001. "Output Convergence and International Trade: Time-Series and Fuzzy Clustering Evidence for New Zealand and Her Trading Partners, 1950-1992," Econometrics Working Papers, Department of Economics, University of Victoria 0102, Department of Economics, University of Victoria.
  19. Maurseth, Per Botolf, 2001. "Convergence, geography and technology," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 12(3), pages 247-276, September.
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Citations

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Cited by:
  1. Chad Stroomer & David E.A. Giles, 2003. "Income Convergence and trade Openness: Fuzzy Clustering and Time Series Evidence," Econometrics Working Papers, Department of Economics, University of Victoria 0304, Department of Economics, University of Victoria.
  2. David E. A. Giles & Carl Mosk, 2003. "Ruminant Eructation and a Long-Run Environmental Kuznets' Curve for Enteric Methane in New Zealand: Conventional and Fuzzy Regression Analysis," Econometrics Working Papers, Department of Economics, University of Victoria 0306, Department of Economics, University of Victoria.
  3. David E. A. Giles & Chad Stroomer, 2003. "Does Trade Openness Affect the Speed of Output Convergence? Some Empirical Evidence," Econometrics Working Papers, Department of Economics, University of Victoria 0307, Department of Economics, University of Victoria.

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