A “SURE” approach to testing for convergence in regional integrated areas: an application to output convergence in Mercosur
comunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadatos
Título
A “SURE” approach to testing for convergence in regional integrated areas: an application to output convergence in MercosurFecha de publicación
2008-03Editor
Center for International Economics, Sejong InstitutionISSN
1225-651XCita bibliográfica
CAMARERO, Mariam; FLÔRES, Renato G.; TAMARIT, Cecilio. A``SURE''Approach to Testing for Convergence in Regional Integrated areas: An Application to Output Convergence in Mercosur. Journal of Economic Integration, 2008, p. 1-23.Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
http://search.proquest.com/publication/54198Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
In this paper we propose the use of a sequential multivariate approach to test for convergence. These tests allow us to reconcile the time series literature with the cross-sectional dimension which is basic when testing ... [+]
In this paper we propose the use of a sequential multivariate approach to test for convergence. These tests allow us to reconcile the time series literature with the cross-sectional dimension which is basic when testing for convergence in regional blocs. In addition, this methodology helps to avoid the problem due to the limited dataset length. We apply multivariate unit root tests in two stages. First, we test for non-convergence without identifying the countries within the group that effectively converge and, in a second stage, the countries that converge are identified. The SURE technique allows for the existence of correlations across the series without imposing a common speed of mean reversion. The empirical results for Mercosur countries show that there is evidence of catching up of the small countries towards Brazil and, to some extent, Argentina. In contrast, the evidence of catching-up among the larger countries is weaker [-]
Publicado en
Journal of economic integration, 2008, v. 23, n. 1Derechos de acceso
© Center for International Economics, Sejong Institution
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