International Output Convergence: Evidence from an AutoCorrelation Function Approach

This paper uses an AutoCorrelation Function approach to develop new tests for international output convergence. Using per capita GDP for 15 OECD countries observed over a century, we find that the hypothesis of conditional convergence is unsupported; that, the United States apart, the linearized neoclassical growth model fails to replicate the transitional dynamics of OECD economies; and that these economies do not behave like a club.

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Authors:	Caggiano, G ; Leonida, L
Institutions:	Department of Economics, Adam Smith Business School
Subject:	Autocorrelation Function \| Convergence \| Neoclassical Growth Model

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	C22 - Time-Series Models ; N10 - Macroeconomics and Monetary Economics; Growth and Fluctuations. General, International, or Comparative ; O40 - Economic Growth and Aggregate Productivity. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005075696