English  |  正體中文  |  简体中文  |  全文筆數/總筆數 : 49199/83641 (59%)
造訪人次 : 7094566      線上人數 : 69
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
搜尋範圍 查詢小技巧:
  • 您可在西文檢索詞彙前後加上"雙引號",以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋,建議至進階搜尋限定作者欄位,可獲得較完整資料
  • 進階搜尋
    請使用永久網址來引用或連結此文件: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/23748

    題名: Diverging evidence of convergence hypothesis
    作者: 黃河泉;Huang, Ho-chuan
    貢獻者: 淡江大學財務金融學系
    關鍵詞: Convergence hypothesis;Cross-country growth regression;Multiple equilibria;Flexible nonlinear inference
    日期: 2005-06
    上傳時間: 2009-11-30 17:51:50 (UTC+8)
    出版者: Elsevier
    摘要: Conventional tests of convergence hypothesis using linear cross-country growth regressions often report favorable evidence consistent with the hypothesis, namely, poor countries growing at a faster rate than the rich ones so that the differences in the levels of per-capita income disappear over time. However, recent studies based on theoretical background of multiple-regime equilibria, tend to suggest the existence of multiple steady states, i.e., rejecting the convergence hypothesis. Econometric methodology along this line includes the regression tree analysis, semiparametric partially linear method and threshold regression.

    In contrast, this paper revisits the issue via a flexible nonlinear approach recently developed by Hamilton [A parametric approach to flexible nonlinear inference. Econometrica, 69 (2001) 537–573]. The novel method not only provides a Lagrange multiplier test for nonlinearity but also allows us to derive a consistent estimation of what the nonlinear relation looks like. A real data set is used to investigate if the cross-country growth regressions exhibit nonlinearity and to see if there are “convergence clubs” and “diverging economies”. Empirical results indicate that the linearity assumption of cross-country growth regressions can be rejected to favor the multiple-regime steady states.
    關聯: Journal of Macroeconomics 27(2), pp.233-255
    DOI: 10.1016/j.jmacro.2003.10.002
    顯示於類別:[財務金融學系暨研究所] 期刊論文


    檔案 大小格式瀏覽次數



    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - 回饋