The aim of this paper is to analyze the relationships between common shocks affecting the real economy and those underlying co-fluctuations in U.S. financial markets. In order to do this, we test for links between these common factors and also use the econometric theory of non-stationary panel...

The aim of this paper is to analyze the relationships between common shocks affecting the real economy and those underlying co-fluctuations in U.S. financial markets. In order to do this, we test for links between these common factors and also use the econometric theory of nonstationary panel...

Cet article a pour objectif d'étudier les effets de l'imperfection du marché du crédit sur la convergence des pays de la zone CFA vers la frontière de croissance mondiale. Afin de mettre l'accent sur le fait qu'un marché du crédit moins performant constitue une contrainte qui empêche ces...

This paper presents an essay on empirical testing procedure for economic convergence. Referring to the unit root test proposed by Moon and Perron (2004), we proposed a modified Evans (1996) testing procedure of the convergence hypothesis. The advantage of this modified procedure is that it makes...

(VF)Nous proposons ici une modification de la procédure de test de convergence en panel d'Evans et Karras (1996). La littérature empirique sur la convergence économique a tendance à ignorer les phénomènes d'interdépendances et de changement structurel qui affectent l'équation de...

(VF)Nous proposons ici une modification de la procédure de test de convergence en panel d'Evans et Karras (1996). La littérature empirique sur la convergence économique a tendance à ignorer les phénomènes d'interdépendances et de changement structurel qui affectent l'équation de...

This study investigates the role of international spillovers in generating productivity gains for a panel of 24 OECD countries during the period between 1971 and 2004. We use recent techniques developed in a common factor framework to characterize the global interdependence implied by...

This work aims to study the effects of credit-market imperfection on the convergence of the cfa zone to the frontier growth rate. It focuses on the fact that a less efficient credit market is a constraint that prevents these countries to benefit from technology transfer and causes them to...

This study investigates the role of international spillovers in generating productivity gains for a panel of 24 OECD countries during the period between 1971 and 2004. We use recent techniques developed in a common factor framework to characterize the global interdependence implied by...