Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
958184 | Journal of Economics and Business | 2006 | 15 Pages |
Abstract
This article examines the real convergence hypothesis in 43 African countries (both towards an African average and the U.S. economy) by means of using time series techniques. When applying unit root tests allowing for a structural break, we only find evidence of conditional convergence towards the U.S. economy for the case of Seychelles. When the catch-up hypothesis is analyzed, we find more evidence of convergence both towards the African average (Benin, Cameroon, Cape Verde, Djibouti, Egypt, Ghana, Kenya, Mali, Uganda and Zimbabwe) and towards the U.S. economy (Cape Verde, Egypt, Mauritius, Seychelles and Tunisia).
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Authors
J. Cuñado, F. Pérez de Gracia,