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| Author: | Cellini, R. Scorcu, A. |
| Title: | Segmented stochastic convergence across the G-7 countries |
| Journal: | Empirical Economics
2000 : VOL. 25:3, p. 463-474 |
| Index terms: | COINTEGRATION STOCHASTIC PROCESSES STRUCTURAL ANALYSIS |
| Language: | eng |
| Abstract: | This paper analyzes the stochastic convergence in per capita income levels among the current G-7 over the period 1900-89. The authors show that, in the presence of possible structural breaks, the strong condition of stationary pair-wise differences between per capita GDP holds in more cases than previously supposed. However, convergence occurs more frequently in the first part of the time sample than in the second one. |
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