Apergis, Nicholas; Christou, Christina; Miller, Stephen - In: Empirical Economics 43 (2012) 3, pp. 1011-1040
This article analyzes the degree of convergence of financial development for a panel of 50 countries. We apply the methodology of Phillips and Sul (Econometrica 75:1771–1855, <CitationRef CitationID="CR58">2007</CitationRef>) to various indicators of financial development to assess the existence of convergence clubs. We consider ten...</citationref>