confirmed using several methodologies (panel unit root tests and Kernel Density Estimates). Second, in addition to the findings …

In this paper we test the convergence hypothesis by using a revised 4-step procedure of panel unit root test suggested … incorporate spatial autoregressive error into a fixed-effect panel model to account for not only the heterogeneous panel structure …, but also spatial dependence, which might induce lower statistical power of conventional panel unit root test. Our …