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Stochastic convergence of the catch-up rate and multiple structural breaks in Asian countries

Listed author(s):
  • Evans, Paul
  • Kim, Ji Uk
Registered author(s):

Allowing for multiple structural breaks and cross-section dependence, we re-investigate the hypothesis that the catch-up rates stochastically converge for 13 Asian countries from 1960 to 2007. Non-rejection of stationarity provides evidence for stochastic convergence, implying that following shocks to the catch-up rate, it will eventually revert to its long-run level.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165176511000620
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 111 (2011)
Issue (Month): 3 (June)
Pages: 260-263

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Handle: RePEc:eee:ecolet:v:111:y:2011:i:3:p:260-263
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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