This paper proposes Lagrange multiplier (LM) based tests for the null hypothesis of no cointegration in panel data. The tests are general enough to allow for heteroskedastic and serially correlated errors, individual specific time trends, and a single structural break in both the intercept and...

The central question will be, whether ALMPs are actually in line with the transition aim of struc-tural adjustment. Due to a lack of consistent micro-level data, theoretical considerations will be an important supplement for evaluating the Chinese concept. In order to illuminate the quantitative...