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Stephen Hall Stepana Lazarova & Giovanni Urga 《Oxford bulletin of economics and statistics》1999,61(S1):749-767
In this paper we propose a new approach based on principal components analysis to test for the number of common stochastic trends driving the non-stationary series in a panel data set. This test has the advantage that it is also consistent when there is a mixture of I (0) and I (1) series, making it unnecessary to pre-test the panel for unit root. Furthermore, the test solves the problem of dimensionality encountered in large panel data sets. 相似文献
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In this paper, the authors use a time-varying parameters procedure to test for a common growth path in the ex-Communist bloc, both pre- and postreform. They test whether there has been convergence within the bloc or between the bloc as a group and the West. Surprisingly, there is little evidence of convergence within the bloc, which brings into question the effectiveness of policies to reduce differentials in income per capita under the Communists. There is also little evidence of convergence with respect to the West, either during the period from 1970 to 1990 or if the reform years are included (i.e., 1970 to 1998). J. Comp. Econ., December 2001, 29(4), pp. 677–691. © 2001 Elsevier ScienceJournal of Economic Literature Classification Numbers: O40, C22, C23, C15. 相似文献
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Our data on investment in Central and Eastern European economies reveal that, though investment rates were typically high
in the 1970s, the marginal efficiency of investment was low. Investment shares begun to decline in the 1980s, before the collapse
of the communist system, but there was some recovery in most countries after transition. We use the Kalman filter framework
to test for convergence in investment rates. We find some evidence of convergence in Central European countries – former Czechoslovakia,
Poland and the countries of the former Yugoslavia. For the remainder of the socialist bloc, however, we were unable to isolate
convergence in investment shares.
This revised version was published online in July 2006 with corrections to the Cover Date. 相似文献
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