Register  |  Login  |  Inquiries  |  Sitemap
Advanced Search
Journal of Economic Integration 2002 April;17(4) :826-838.
DOI: https://doi.org/10.11130/jei.2002.17.4.826
Convergence in International Output: Evidence from Panel Data Unit Root Tests
Mark J. Holmes 
Loughborough University
Copyright ©2002 Journal of Economic Integration
ABSTRACT
This paper investigates international output convergence using methods of panel data unit root testing advocated by Im et al. (1997) and Breuer et al. (1999). Using quarterly data for a sample of OECD economies for the period 1960-98 on GDP differentials, the evidence suggests that power deficiency may be an issue where univariate ADF unit root tests find against convergence with respect to the US or Germany. However, while the Im et al. t-bar test offers strong evidence in favor of convergence, the Breuer et al. SURADF test suggests that this finding may in fact be driven by the rejection of non-stationarity in a small number of cases. JEL Classifications (C2, C3, F0)
Keywords: Unit Root Testing | Panel Data | Convergence
Editorial Office
Center for Economic Integration, Sejong Institution, Sejong University, 209, Neungdong-Ro, Gwangjin-Gu,
Seoul, 05006, Korea
TEL : +82-2-3408-3338    FAX : +82-2-3408-3338   E-mail : jei@sejong.ac.kr
Browse Articles |  Current Issue |  For Authors and Reviewers |  About
Copyright© by Center for Economic Integration. All right reserved.