reopening the convergence debate when sharp breaks and smooth shifts wed, 1870-2010

نویسندگان

omid ranjbar

allameh tabataba'i university, tsangyao chang

department of finance, feng chia university chien-chiang lee

department of finance, national su yat-sen university zahra (mila) elmi

faculty of economics, university of mazandaran

چکیده

abstract this paper attempts to re-investigate the catching-up (stochastic convergence) hypothesis among the selected 16 oecd countries applying the time series approach of convergence hypothesis with annual data over one century. to reach this aim, we propose a model which specifies a trend function, incorporating both types of structural breaks – that is, sharp breaks and smooth shifts using dummy variables and fourier function respectively. in order to detect the sharp breaks, we apply the multiple structural break models (bai & perron, 1998) and the fourier function proposed in becker et al. (2004) to capture the smooth shifts. our results show that most divergence process occurred over world war i (wwi) and world war ii (wwii). among the 69 estimated break points occurred over the period 1870-2010, 75 % of those break points result in catching-up and the remainder results in divergence.

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Reopening the Convergence Debate when Sharp Breaks and Smooth Shifts Wed, 1870-2010

Abstract This paper attempts to re-investigate the catching-up (stochastic convergence) hypothesis among the selected 16 OECD countries applying the time series approach of convergence hypothesis with annual data over one century. To reach this aim, we propose a model which specifies a trend function, incorporating both types of structural breaks – that is, sharp breaks and smooth shifts usin...

متن کامل

When it breaks , it breaks

Dependencies among software projects and libraries are an indicator of the often implicit collaboration among many developers in software ecosystems. Negotiating change can be tricky: changes to one module may cause ripple effects to many other modules that depend on it, yet insisting on only backwardcompatible changes may incur significant opportunity cost and stifle change. We argue that awar...

متن کامل

Smooth Shifts

Let M be a smooth manifold and Φ be a smooth flow on M . We study the maps M → M generated by smooth shifts along trajectories of Φ, i.e the maps of a form h(x) = Φ(x, σ(x)) where σ is some smooth function on M . We will classify smooth shifts which induce diffeomorphisms ofM and prove contractibility of the set of such diffeomorphisms for large class of flows. These results will be applied to ...

متن کامل

Motivating Knowledge Sharing in Diverse Organizational Contexts: An Argument for Reopening the Intrinsic vs. Extrinsic Debate

In an effort to assess the generalizability of factors that influence the disposition of knowledge sharing within organizations, this paper replicates a previous study that provided support for intrinsic motivators playing a dominant role in organizational science literature but applies it to a different community. A recent survey of 156 U.S. and Canadian law enforcement, forensic, and informat...

متن کامل

the differential effects of debate and media analysis as relate to enhancing efl learners critical thinking ability and writing performances

critical thinking ability has an important role in education. accordingly, scholars around the world are searching for new ways for teaching and improving students critical thinking ability. in line with the studies in efl contexts supporting the positive relationship between critical thinking and writing performances, this study investigated the differential effects of halverson’s critical thi...

15 صفحه اول

منابع من

با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید


عنوان ژورنال:
iranian economic review

جلد ۲۰، شماره ۳، صفحات ۳۵۶-۳۷۷

میزبانی شده توسط پلتفرم ابری doprax.com

copyright © 2015-2023