Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/156165
Authors: 
Zarembova, Andrea
Lyocsa, Stefan
Baumöhl, Eduard
Year of Publication: 
2012
Citation: 
[Journal:] Ekonomicky časopis/Journal of Economics [ISSN:] 0013-3035 [Year:] 2012 [Volume:] 60 [Issue:] 6 [Pages:] 642-656.
Abstract: 
The paper examines the unconditional sigma and time-series convergence of real GDP per capita (measured in national currencies and euros) for CEE8 countries during the 1995 : Q1 – 2011 : Q1 period by applying the unit root fra-mework using the DF-GLS test and the Lee and Strazicich (2003; 2004) test, which allows for endogenous breaks in trends and constants. We selected Germany as a benchmark country for relative real GDP per capita because of its geographical and economical position relative to all CEE8 countries. We have found that both sigma convergence and time-series convergence were present for most of the CEE8 countries prior to the breaks in trends, but after the breaks, the convergence slowed or reversed and thus indicated divergence.
Subjects: 
time-series convergence
sigma convergence
CEE
unit root test
structural breaks
JEL: 
C22
G01
E0
O40
P20
Document Type: 
Article

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