Segmented Stochastic Convergence Across the G-7 Countries

Posted: 15 Jan 2001

See all articles by Roberto Cellini

Roberto Cellini

University of Catania - Department of Economics and Business

Antonello E. Scorcu

University of Bologna - Department of Economics

Abstract

This paper analyzes the stochastic convergence in per capita income levels among the current G-7 over the period 1900-89. We 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.

Key words: Cointegration, Structural Break, Stochastic Convergence

JEL Classification: O41

Suggested Citation

Cellini, Roberto and Scorcu, Antonello, Segmented Stochastic Convergence Across the G-7 Countries. Available at SSRN: https://ssrn.com/abstract=239197

Roberto Cellini (Contact Author)

University of Catania - Department of Economics and Business ( email )

Corso Italia 55
95129 Catania, 95129
Italy
+390957537728 (Phone)
+390957537710 (Fax)

Antonello Scorcu

University of Bologna - Department of Economics ( email )

I-40126 Bologna
Italy

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