Nominal and real stochastic convergence of transition economies
Kutan, A. M.
Please cite this item using this persistent URLhttp://hdl.handle.net/11693/11293
Journal of Comparative Economics
- Department of Economics 
To investigate the sensitivity of real and nominal economic convergence of transition economies to model specification and restrictions, we extend the work of Kocenda [J. Compar. Econ. 29 (2001) 1] by considering a more stable, post-1993 period and by adopting a more recent panel estimation approach. This new technique involves less restrictive assumptions than previous panel unit root techniques by allowing heterogeneity in convergence rates. Our results show less nominal and real economic convergence than those of Kocenda.
Kutan, A. M., & Yigit, T. M. (2004). Nominal and real stochastic convergence of transition economies. Journal of Comparative Economics, 32(1), 23-36.