کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
10478335 930959 2005 23 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Diverging evidence of convergence hypothesis
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Diverging evidence of convergence hypothesis
چکیده انگلیسی
In contrast, this paper revisits the issue via a flexible nonlinear approach recently developed by Hamilton [A parametric approach to flexible nonlinear inference. Econometrica, 69 (2001) 537-573]. The novel method not only provides a Lagrange multiplier test for nonlinearity but also allows us to derive a consistent estimation of what the nonlinear relation looks like. A real data set is used to investigate if the cross-country growth regressions exhibit nonlinearity and to see if there are “convergence clubs” and “diverging economies”. Empirical results indicate that the linearity assumption of cross-country growth regressions can be rejected to favor the multiple-regime steady states.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Macroeconomics - Volume 27, Issue 2, June 2005, Pages 233-255
نویسندگان
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