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Economic Integration and Convergence: Lessons from Asia, Europe and Latin America

Author

Listed:
  • Karras, Georgios

    () (The University of Illinois at Chicago)

Abstract

This paper examines whether economic integration facilitates convergence in per capita income by investigating the post-war convergence experience within three regional economic areas: the Association of Southeast Asian Nations (ASEAN), the European Union (EU), and the Latin American Free Trade Area (LAFTA). A number of different empirical tests and specifications provide evidence that convergence in income per capita has been the strongest and most rapid in the EU, milder but probably present in LAFTA, and nonex - istent in ASEAN.

Suggested Citation

  • Karras, Georgios, 1997. "Economic Integration and Convergence: Lessons from Asia, Europe and Latin America," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 12, pages 419-432.
  • Handle: RePEc:ris:integr:0057
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    References listed on IDEAS

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    2. Dueker, Michael & Fischer, Andreas M., 1996. "Inflation targeting in a small open economy: Empirical results for Switzerland," Journal of Monetary Economics, Elsevier, vol. 37(1), pages 89-103, February.
    3. Holland, A Steven, 1995. "Inflation and Uncertainty: Tests for Temporal Ordering," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(3), pages 827-837, August.
    4. Brunner, Allan D & Hess, Gregory D, 1993. "Are Higher Levels of Inflation Less Predictable? A State-Dependent Conditional Heteroscedasticity Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 11(2), pages 187-197, April.
    5. Serletis, Apostolos & King, Martin, 1993. "The role of money in Canada," Journal of Macroeconomics, Elsevier, vol. 15(1), pages 91-107.
    6. Apergis, Nicholas, 1997. "Inflation uncertainty, money demand, and monetary deregulation: Evidence from a univariate ARCH model and cointegration tests," Journal of Policy Modeling, Elsevier, vol. 19(3), pages 279-293, June.
    7. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    8. Froyen, Richard T & Waud, Roger N, 1987. "An Examination of Aggregate Price Uncertainty in Four Countries and Some Implications for Real Output," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(2), pages 353-372, June.
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    11. Daniel Racette & Jacques Raynauld, 1992. "Canadian Monetary Policy: Will the Checklist Approach Ever Get Us to Price Stability?," Canadian Journal of Economics, Canadian Economics Association, vol. 25(4), pages 819-838, November.
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    Cited by:

    1. Carmignani, Fabrizio, 2007. "A note on income converge effects in regional integration agreements," Economics Letters, Elsevier, vol. 94(3), pages 361-366, March.
    2. FE, Doukouré Charles, 2010. "Réduction de Droits de Douane et Convergence Réelle dans l'UEMOA
      [Tariffs Reduction and Real Convergence in WAEMU]
      ," MPRA Paper 26763, University Library of Munich, Germany.

    More about this item

    Keywords

    Economic; Integration;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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