Income convergence: fresh evidence from the Nordic countries
Using the recently developed linearity test and non-linear unit root test, this study shows that the income gaps of Finland, Norway and Sweden with respect to Denmark are non-linear but stationary with no significant trend effect, implying the Nordic countries have already attained steady state of income equality, a state beyond catching up as identified earlier in Oxley and Greasley (1999). This fresh evidence strengthens the finding of Nordic Convergence Club by these authors.
|Date of creation:||2006|
|Date of revision:||Mar 2007|
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- Kapetanios, George & Shin, Yongcheol & Snell, Andy, 2003. "Testing for a unit root in the nonlinear STAR framework," Journal of Econometrics, Elsevier, vol. 112(2), pages 359-379, February.
- repec:ebl:ecbull:v:15:y:2005:i:1:p:1-7 is not listed on IDEAS
- Dirk Te Velde, 2001. "Balance of payments prospects in EMU," NIESR Discussion Papers 178, National Institute of Economic and Social Research.
- Les Oxley & David Greasley, 1999. "A Nordic convergence club?," Applied Economics Letters, Taylor & Francis Journals, vol. 6(3), pages 157-160.
- Venus Khim-Sen Liew & Kian-Ping Lim, 2005. "Income Divergence? Evidence of Non-linearity in the East Asian Economies," Economics Bulletin, AccessEcon, vol. 15(1), pages 1-7.
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