Nominal and Real Stochastic Convergence of Transition Economies
Posted: 16 Aug 2004
Abstract
To investigate the sensitivity of real and nominal economic convergence of transition economies to model specification and restrictions, we extend the work of Kocenda [J. Compar. Econ. 29 (2001) 1] by considering a more stable, post-1993 period and by adopting a more recent panel estimation approach. This new technique involves less restrictive assumptions than previous panel unit root techniques by allowing heterogeneity in convergence rates. Our results show less nominal and real economic convergence than those of Kocenda.
JEL Classification: O570, C330, F150
Suggested Citation: Suggested Citation
Kutan, Ali M. and Yigit, Taner M., Nominal and Real Stochastic Convergence of Transition Economies. Available at SSRN: https://ssrn.com/abstract=568822
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