Previous findings of long-run purchasing power parity come mainly from data for industrial countries, raising the issue of whether the results suffer sample-selection bias and exaggerate the general relevance of parity reversion. This study uncovers substantial cross-country heterogeneity in the...

Using the KOF index of globalization that allows for the multidimensionality of the process, the paper sets out to examine the presence of convergence among countries in the three dimensions of the globalization process: economic, social, political. The sample used in the empirical investigation...