Testing for output convergence: A re-examination

Oxford Economic Papers

Volumn 56, Issue 1, 2004, Pages 45-63

  Cheung, Yin Wong ^a   Pascual, Antonio Garcia ^b  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b INTERNATIONAL MONETARY FUND   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CONVERGENCE; G-7 COUNTRY; PANEL DATA; TIME SERIES ANALYSIS;

EID: 1642439183     PISSN: 00307653     EISSN: None     Source Type: Journal    
DOI: 10.1093/oep/56.1.45     Document Type: Article

References (42)

1. Aghion, P. and Howitt, P. (1992). 'A model of growth through creative destruction', Econometrica, 60, 323-51.
2. Andrews, D. (1991). 'Heteroskedasticity and autocorrelation consistent covariance matrix estimation', Econometrica, 59, 817-58.
3. Andrews, D. and Monahan, J. (1992). 'An improved heteroskedasticity and autocorrelation consistent covariance matrix estimator', Econometrica, 60, 953-66.
4. Barro, R.J. (1991). 'Economic growth in a cross-section of countries', Quarterly Journal of Economics, 106, 407-43.
5. Barro, R.J. and Sala-i-Martin, X. (1992). 'Convergence', Journal of Political Economy, 100, 223-51.
6. Barro, R.J. and Sala-i-Martin, X. (1995). Economic Growth, McGraw Hill Inc., New York, 414-61.
7. Baumol, W.J. (1986). 'Productivity growth, convergence and welfare: what the long-run data show', American Economic Review, 76, 1072-85.
8. Ben-David, D. (1994). 'Convergence clubs and diverging economies', Discussion Paper No. 922, CEPR, London.
9. Bernard, A. and Durlauf, S. (1995). 'Convergence in international output', Journal of Applied Econometrics, 10, 97-108.
10. Bernard, A. and Durlauf, S. (1996). 'Interpreting tests of the convergence hypothesis', Journal of Econometrics, 71, 161-74.
11. Breuer, J.B., McNown, R., and Wallace, M. (2002). 'Series-specific unit root tests with panel data', Oxford Bulletin of Economics and Statistics, 64, 527-46.
12. Cheung, Y.-W. and Lai, K.S. (1995). 'Lag order and critical values of the augmented Dickey-Fuller test', Journal of Business and Economic Statistics, 13, 227-80.
13. Choi, I. and Ahn, B.C. (1998). 'Testing the null of stationarity for multiple time series', Journal of Econometrics, 88, 41-77.
14. DeLong, J.B. (1988). 'Productivity growth, convergence, and welfare: comment', American Economic Review, 78, 1138-54.
15. Dickey, D. and Fuller, W. (1979). 'Distribution of the estimators for autoregressive time series with a unit root', Journal of the American Statistical Association, 74, 427-31.
16. Durlauf, S. and Quah, D. (1999). 'The new empirics of economic growth', in J.B. Taylor and M. Woodford (eds), Handbook of Macroeconomics, North- Holland Elsevier Science, Amsterdam, 231-304.
17. Evans, G.B.A. and Savin, N.E. (1984). 'Testing for unit roots: 2', Econometrica, 52, 1241-69.
18. Evans, P. (1997). 'How fast do economies converge?', Review of Economics and Statistics, 79, 219-25.
19. Evans, P. (1998). 'Using panel data to evaluate growth theories', International Economic Review, 39, 295-306.
20. Hsiao, C. (1986). Analysis of Panel Data, Econometric Society monograph 11, Cambridge University Press, Cambridge.
21. Grossman, G.M. and Helpman, E. (1991). Innovation and Growth in the Global Economy, The MIT Press, Cambridge, MA, 43-111.
22. Im, K.S., Pesaran, M.H., and Shin, Y. (1997). 'Testing for unit roots in heterogeneous panels', mimeo, Department of Applied Economics, University of Cambridge.
23. Levin, A. and Lin, C.F. (1992). 'Unit root in panel data: asymptotic and finite sample properties', Working Paper 92-63, Department of Economics, University of California, San Diego.
24. Levin, A. and Lin, C.F. (1993). 'Unit root tests in panel data: new results', Working Paper 93-56, Department of Economics, University of California, San Diego.
25. Li, Q. and Papell, D. (1999). 'Convergence of international output: time series evidence for 16 OECD countries', International Review of Economics and Finance, 8, 267-80.
26. Maddison, A. (1995). Monitoring the World Economy, 1820-1992, OECD, Washington, DC.
27. Mankiw, G., Romer, D., and Weil, D. (1992). 'A contribution to the empirics of economic growth', Quarterly Journal of Economics, 107, 407-37.
28. O'Connell, P. (1998). 'The overvaluation of purchasing power parity', Journal of International Economics, 44, 1-19.
29. Papell, D. and Theodoridis, H. (2001). 'The choice of numeraire currency in panel tests of purchasing power parity', Journal of Money, Credit, and Banking, 33, 790-803.
30. Quah, D. (1992). 'International patterns of growth: I. Persistence in cross-country disparities', Working Paper, London School of Economics, October.
31. Quah, D. (1993). 'Galton's fallacy and tests of the convergence hypothesis', The Scandinavian Journal of Economics, 95, 427-43.
32. Quah, D. (1994). 'Exploiting cross-section variations for unit root inference in dynamic data', Economic Letters, 44, 9-19.
33. Quah, D. (1997). 'Empirics for growth and distribution: stratification, polarization, and convergence clubs', Journal of Economic Growth, 2, 27-59.
34. Romer, P. (1990). 'Endogenous technical change', Journal of Political Economy, 98, 71-102.
35. Sargan, J.D. and Bhargava, A. (1983). 'Testing for residuals from least squares regression for being generated by the Gaussian random walk', Econometrica, 51, 153-74.
36. Sarno, L. and Taylor, M. (1998). 'Real exchange rates under the recent float: unequivocal evidence of mean reversion', Economics Letters, 60, 131-7.
37. Solow, R.M. (1956). 'A contribution to the theory of economic growth', Quarterly Journal of Economics, 70, 65-94.
38. Summers, R. and Heston, A. (1991). 'PennWorld Table (Mark 5): an expanded set of international comparisons, 1955-1988', Quarterly Journal of Economics, 106, 327-68.
39. Swan, T. (1956). 'Economic growth and capital accumulation', Economic Record, 32, 334-61.
40. Taylor, M. and Sarno, L. (1998). 'The behavior of real exchange rates during the post-BrettonWoods period', Journal of International Economics, 46, 281-312.
41. Temple, J. (1999). 'The new growth evidence', Journal of Economic Literature, 37, 112-56.
42. West, K.D. (1987). 'A note on the power of least squares tests for a unit root', Economics Letters, 24, 249-52.