Output convergence revisited: New time series results on industrialized countries

Ruey Yau; James C. Hueng

doi:10.1080/13504850500425543

Output convergence revisited: New time series results on industrialized countries

Ruey Yau
, James C. Hueng

Department of Economics

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

Cross-country output convergence is re-examined using a flexible concept of unit roots. While the presence of a constant unit root in output-differences implies nonconvergence, the presence of a stochastic unit root on the contrary implies convergence. Using the output-differences between the USA and the other 14 OECD countries, we find output divergence only for the USA/UK and USA/Sweden country-pairs.

Original language	English
Pages (from-to)	75-77
Number of pages	3
Journal	Applied Economics Letters
Volume	14
Issue number	1
DOIs	https://doi.org/10.1080/13504850500425543
State	Published - 20 Jan 2007

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abstract = "Cross-country output convergence is re-examined using a flexible concept of unit roots. While the presence of a constant unit root in output-differences implies nonconvergence, the presence of a stochastic unit root on the contrary implies convergence. Using the output-differences between the USA and the other 14 OECD countries, we find output divergence only for the USA/UK and USA/Sweden country-pairs.",

author = "Ruey Yau and Hueng, \{James C.\}",

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N2 - Cross-country output convergence is re-examined using a flexible concept of unit roots. While the presence of a constant unit root in output-differences implies nonconvergence, the presence of a stochastic unit root on the contrary implies convergence. Using the output-differences between the USA and the other 14 OECD countries, we find output divergence only for the USA/UK and USA/Sweden country-pairs.

AB - Cross-country output convergence is re-examined using a flexible concept of unit roots. While the presence of a constant unit root in output-differences implies nonconvergence, the presence of a stochastic unit root on the contrary implies convergence. Using the output-differences between the USA and the other 14 OECD countries, we find output divergence only for the USA/UK and USA/Sweden country-pairs.

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Output convergence revisited: New time series results on industrialized countries

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