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Convergence réelle et convergence nominale dans les Pays de la région MENA
[Real and nominal convergence amongst MENA countries]

  • REY, Serge

We study the processes of real convergence (per-capita GDP, period 1950-2005) and of nominal convergence (inflation rate, period 1973-2005) for a sample of MENA countries. Using the methods of dynamic analysis based on transition matrices (Markov processes) and stochastic kernels, we show that there is not had a global real convergence process, but rather convergence clubs. Conversely, a convergence process of inflation rates is verified. Finally, we note that the speed of convergence of inflation rates is at twice as fast as the speed of convergence of the per-capita GDP.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30206.

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Date of creation: Sep 2005
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Handle: RePEc:pra:mprapa:30206
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  20. Wachtel, Paul, 2001. "Growth and Finance: What Do We Know and How Do We Know It?," International Finance, Wiley Blackwell, vol. 4(3), pages 335-62, Winter.
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