DETECTING THE CONVERGENCE CLUBS AND CATCH−UP IN GROWTH
Journal Title: Asian Economic and Financial Review - Year 2013, Vol 3, Issue 1
Abstract
We conduct empirical panel data analysis to detect the catching- up effect in growth and the possibility to form different convergence clubs in selected Europe and Asian economies. In particular, we seek to investigate if the selected countries are able to catch- up to the growth level of developed economy of the United Kingdom (U.K.). The control variables used to test for conditional convergence include inflation, trade, net inflow of foreign direct investment, total population and government consumption expenditure. Our results reveal that all economies except Turkey and India are able to catch- up with U.K. economy. The economies in both regions of Europe and Asia are able to form their convergence clubs.
Authors and Affiliations
Poh Choo Song| School of Mathematical Sciences, Universiti Sains Malaysia, Penang, Malaysia, Siok Kun Sek| School of Mathematical Sciences, Universiti Sains Malaysia, Penang, Malaysia, Wai Mun Har| Accountancy and Management, Universiti Tunku Abdul Rahman, Selangor, Malaysia
Keywords
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