Convergence among five industrial countries (1870–1994): Results from a time varying cointegration approach
Le Pen, Yannick (2005), Convergence among five industrial countries (1870–1994): Results from a time varying cointegration approach, Empirical Economics, 30, 1, p. 25-35. http://dx.doi.org/10.1007/s00181-004-0213-9
TypeArticle accepté pour publication ou publié
Journal nameEmpirical Economics
MetadataShow full item record
Author(s)Le Pen, Yannick
Abstract (EN)In this paper, we check the hypothesis of a time varying cointegration relation between four industrial countries' per capita GDPs and US per capita GDP on the period from 1870 to 1994. Park and Hahn (1999) give the methodology. Results confirm the hypothesis of time evolving cointegration in all cases. Tests on the parameters of these cointegration relations show that, from the 1980's onwards, we can accept the hypothesis of stochastic convergence between France, Germany and Japan, on one hand, and the United States on the other.
Subjects / KeywordsCointegration; convergence
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