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Studies in Nonlinear Dynamics & Econometrics

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On the Power of Absolute Convergence Tests

Rómulo A. Chumacero1

1Central Bank of Chile and University of Chile,

Citation Information: Studies in Nonlinear Dynamics & Econometrics. Volume 10, Issue 2, ISSN (Online) 1558-3708, DOI: 10.2202/1558-3708.1237, May 2006

Publication History

Published Online:
2006-05-07

This article offers supplementary material which is provided at the end of the article.

This paper analyzes whether or not the econometric methods usually applied to test for absolute convergence have provided this hypothesis a "fair" chance. I show that traditional (absolute and conditional) convergence tests are not consistent with even the simplest model that displays convergence. Furthermore, claims of divergence on the grounds of bimodalities in the distribution of GDP per capita can be made consistent with models in which neither divergence nor twin peaks are present in the long run.

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