Evans, Paul; Kim, Ji Uk - In: Economics Letters 111 (2011) 3, pp. 260-263
Allowing for multiple structural breaks and cross-section dependence, we re-investigate the hypothesis that the catch-up rates stochastically converge for 13 Asian countries from 1960 to 2007. Non-rejection of stationarity provides evidence for stochastic convergence, implying that following...