Nominal and real stochastic convergence of transition economies
Date
2004
Authors
Kutan, A. M.
Yigit, T. M.
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Abstract
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.
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Journal of Comparative Economics
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Academic Press
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English