Examining Economic Convergence Using Rank Concordance Indices
نویسنده
چکیده
Recent research has suggested the use of binary and multi-annual rank concordance indices as measures of β-convergence. Using numerical analysis, it is shown that this approach has severe limitations. In particular, it is shown that hypothesis testing based upon the binary index possesses an inherent bias towards non-rejection of the null, leading to spurious detection of β-convergence. The problems with rank concordance indices are further illustrated via an empirical analysis of income convergence in the United States over the period 1929-2003.
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تاریخ انتشار 2006