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Testing for Stochastic Convergence: The Case of the Cohesion Countries

Author

Listed:
  • X. Chapsa
  • A.L. Athanasenas
  • N. Tabakis

Abstract

In this paper, the issue of income convergence in the EU-15 is addressed. Our data set consists of annual log real GDP per capita for the four Cohesion countries and cover the period 1950-2007.The empirical part of the paper applies complementary the Bernard and Durlauf (1995) and Nahar and Inder (2002) methodology.Applying the former, we failed to accept the hypothesis of stochastic convergence of real per capita GDP of the four Cohesion countries towards the EU-15 average.In contrast, the Nahar and Inder test provides strong evidence of convergence for Spain, Portugal and Greece.

Suggested Citation

  • X. Chapsa & A.L. Athanasenas & N. Tabakis, 2018. "Testing for Stochastic Convergence: The Case of the Cohesion Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 38-47.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:2:p:38-47
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    More about this item

    Keywords

    Times series; stochastic convergence; EU-15; cohesion countries. JEL Classification: C22; O47; O52.;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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