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Convergence of Output per Worker in G7 Countries: Evidence from the Club Convergence Test

Year 2022, Volume: 20 Issue: 44, 417 - 432, 28.03.2022

Reşat Ceylan , Şekip Yazgan

https://doi.org/10.35408/comuybd.1017185

Abstract

Bu çalışmada, G7 ülkeleri için 1950-2018 dönemine ait yıllık veriler kullanılarak kulüp yakınsama hipotezinin, çalışan başına çıktı göstergesi çerçevesinde ortaya konması amaçlanmaktadır. Bu nedenle, Phillips ve Sul (2007) tarafından ileri sürülen yakınsama testi kullanılarak çalışan başına çıktının yakınsama kulüpleri gösterip göstermediği analiz edilmektedir. Phillips ve Sul (2007) analizine göre tüm ülkeler için genel bir yakınsama kulübünün bulunmadığı ve farklı yakınsama kulüplerinin olduğu tespit edilmektedir. Phillips ve Sul (2007) analizi sonucunda 2 adet çalışan başına çıktı yakınsama kulübü ve 1 tane de ıraksama kulübü tespit edilmektedir.

Keywords

Kulüp Yakınsama Hipotezi Log t Regresyon Analizi G7 Ülkeleri

Supporting Institution

Destekleyen Kurum Bulunmamaktadır.

Project Number

Çalışma bir projeden türetilmemiştir.

References

  • Andreano, M. S., Laureti, L., ve Postiglione, P. (2013), Economic Growth in MENA Countries: Is there Convergence of Per-capita GDPs? Journal of Policy Modeling,35(4), 669–683.
  • Apergis, N., Cooray, A. (2016), Old Wine in A New Bottle: Trade Openness and FDI Flows-Are the Emerging Economies Converging?.,Contemporary Economic Policy, 34(2), 336-351.
  • Apergis, N., & Georgellis, Y. (2013), Does Happiness Converge?, Journal of Happiness Studies,16 (1), 67-76.
  • Barro, R.J., Sala-I-Martin, X. (1992), Convergence, Journal of Political Economy, 100(2), 223- 251.
  • Bahmani-Oskooee, M., Chang, T., Elmi, Z. (M) ve Ranjbar, O. (2017), Re-Examination of the Convergence Hypothesis among OECD Countries: Evidence from Fourier Quantile Unit Root Test, International Economics,156,77-85.
  • Baumol, W.J. (1986), Productivity Growth, Convergence, and Welfare: What the Long–run Data Show, The American Economic Review, 76(5):1072–1085.
  • Bolea, L., Duarte, R., Choliz, J.S. (2018), From Convergence to Divergence? Some New Insights into the Evolution of the European Union, Structural Change and Economic Dynamics, 47, 82–95.
  • Borsi, M. T., Metiu, N. (2015), The Evolution of Economic Convergence in the European Union, Empirical Economics, 48(2), 657–681.
  • Cabral, R., Castellanos-Sosa, F.A. (2019), Europe’s Income Convergence and the Latest Global Financial Crisis, Research in Economics, 73 (1), 23–34.
  • Caggiano, G., Leonida, L. (2009), International Output Convergence: Evidence from an Autocorrelation Function Approach, Journal of Applied Econometrics, 24,139-162.
  • Canova, F. (2004), Testing for Convergence Clubs in Income Per-capita: A Predictive Density Approach, International Economic Review, 45(1),49–77.
  • Castellacci. F, Archibugi, D. (2008), The Technology Clubs: The Distribution of Knowledge Across Nations, Research Policy, 38(10), 1659–1673.
  • Cavallaro, E., Villani, I. (2021), Club Convergence in EU Countries: A Sectoral Perspective, Journal of Economic Integration, 36(1), 125-161.
  • Cellini, R., Scorcu, A. E. (2000), Segmented Stochastic Convergence Across the G-7 Countries, Empirical Economics, 25(3), 463–474.
  • Ceylan, R. (2010a), G-7 Ülkelerinin Yakınsama Deneyimi: 1870-2006, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 15(3), 311-324.
  • Ceylan, R. (2010b), Yakınsama Hipotezi: Teorik Tartışmalar, Sosyo-Ekonomi, 1, 47-60.
  • Ceylan, R., Telatar, E. ve Telatar, F. (2013), Real Convergence in Selected OECD Countries, Ege Academic Review, 13(2), 209-214.
  • Ceylan, R., Abiyev, V. (2016), An Examination of Convergence Hypothesis for EU-15 Countries, International Review of Economics & Finance, 45, 96–105.
  • Chapsa X., Katrakilidis C. ve Tabakis N. (2015), Investigating the Convergence Hypothesis in the EU: More Evidence Accounting for Structural Breaks, İçinde: Karasavvoglou A., Ongan S., Polychronidou P. (ed.) EU Crisis and the Role of the Periphery, Contributions to Economics. Springer.
  • Charles, A., Darne, O. ve Hoarau, J.F. (2012), Convergence of Real Per Capita GDP within COMESA Countries: A Panel Unit Root Evidence, The Annals of Regional Science, 49(1), 53–71.
  • Corrado, L., Martin, R., ve Weeks, M. (2005), Identifying and Interpreting Regional Convergence Clusters Across Europe, The Economic Journal, 115(502), C133–C160. Desli, E., Gkoulgkoutsika, A. (2020), World Economic Convergence: Does the Estimation Methodology Matter? Economic Modelling, 91, 138-147.
  • Desli, E., Gkoulgkoutsika, A. (2021), Economic Convergence Among The World’s Top-Income Economies, The Quarterly Review of Economics and Finance, 80, 841-853.
  • Dowrick S., Gemmell, N. (1991), Industrialisation, Catching-up and Economic Growth: A Comparative Study Across the World’s Capitalist Countries, The Economic Journal, 101(405), 263–275.
  • Dowrick S., Nguyen, D. (1989), OECD Comparative Economic Growth 1950–85: Catch-up and Convergence, American Economic Review, 79(5), 1010–1030.
  • Evans, P., Kim, J. U. (2011), Stochastic Convergence of the Catch-up Rate and Multiple Structural Breaks in Asian Countries, Economics Letters, 111(3),260–263.
  • Galor, O. (1996), Convergence? Inferences from Theoretical Models, The Economic Journal, 106 (437),1056-1069.
  • Ivanovski, K., Awaworyi Churchill, S. ve Smyth, R. (2018), A Club Convergence Analysis of Per Capita Energy Consumption Across Australian Regions and Sectors, Energy Economics, 76, 519–531.
  • Johnson, P, Takeyama, L. (2001), Initial Conditions and Economic Growth in the US States, European Economic Review, 45(4–6), 919–927.
  • Kang, S. J., Lee, M. (2005), Q-Convergence with Interquartile Ranges, Journal of Economic Dynamics & Control, 29(10), 1785–1806.
  • King, A., Ramlogan-Dobson, C. (2015), International Income Convergence: Is Latin America Actually Different? Economic Modelling, 49, 212–222.
  • Kourtzidis, S. A., Tzeremes, P., Tzeremes, N. G. ve Heryan, T. (2018), Integration of Tourism Markets in Australia: An İnternational Visitor Arrival’ Convergence, Assessment. Tourism Economics, 24(7), 901–907.
  • Li, K., Zhou, X. ve Pan, Z. (2016), Cross-Country Output Convergence and Growth: Evidence from Varying Coefficient Nonparametric Method, Economic Modelling, 55, 32-41.
  • Liu, L., Ruiz, I. (2006), Convergence Hypothesis: Evidence from Panel Unit Root Test with Spatial Dependence, Revista Ecos de Economía, 23, 37–56.
  • Marattin, L., Salotti, S. (2011), Productivity and Per Capita GDP Growth: The Role of the Forgotten Factors, Economic Modelling, 28(3), 1219–1225.
  • Monfort, M., Cuestas, J.C. ve Ordóñez, J. (2013), Real Convergence in Europe: A Cluster Analysis, Economic Modelling, 33,689-694.
  • Noguera-Santaella, J. (2017), Is Sub-Saharan Africa Catching up? Empirical Economics, 52(2), 555–575.
  • Quah, T. (1996), Regional Convergence Clusters across Europe, European Economic Review, 40(3):951 - 958.
  • Panopoulou, E., Pantelidis, T. (2009), Club Convergence in Carbon Dioxide Emissions, Environmental and Resource Economics, 44(1), 47–70.
  • Pesaran, M.H. (2007), A Pair-wise Approach to Testing for Output and Growth Convergence, Journal of Econometrics, 138 (1), 312–355.
  • Phillips, P. C. B., Sul, D. (2007), Transition Modeling and Econometric Convergence Tests, Econometrica, 75(6),1771-1855.
  • Phillips, P.C.B., Sul, D. (2009), Economic Transition and Growth. Journal of Applied Econometrics, 24 (7),1153–1185.
  • Saba, C.S., Ngepah, N. (2021), Military Expenditure, Security Outcome and Industrialisation in Africa: Evidence from a Panel Data Analysis, African Security Review, 30:2, 204-222.
  • Sichera, R., Pizzuto, P. (2019), Convergence Clubs: A Package for Performing the Phillips and Sul’s Club Convergence Clustering Procedure, The R Journal, 11:2, 142-151.
  • Solow, R. M. (1956), A Contribution to the Theory of Growth, Quarterly Journal of Economics, 70(1), 65-94.

Convergence of Output per Worker in G7 Countries: Evidence from the Club Convergence Test

Year 2022, Volume: 20 Issue: 44, 417 - 432, 28.03.2022

Reşat Ceylan , Şekip Yazgan

https://doi.org/10.35408/comuybd.1017185

Abstract

In this study, it is aimed to present the club convergence hypothesis within the framework of per capita output indicator by using annual data for G7 countries and 1950-2018 period. For this purpose, using convergence test proposed by Phillips and Sul (2007), it was analyzed whether the trade openness shows convergence clubs or not According to Phillips and Sul (2007) analysis, there is no general convergence club for all countries and different convergence clubs. Phillips and Sul (2007) analysis revealed that 2 per capita out convergence clubs and 1 divergence club.

Keywords

Club Convergence Hypothesis Log t Regression G7 Countries.

Project Number

Çalışma bir projeden türetilmemiştir.

References

  • Andreano, M. S., Laureti, L., ve Postiglione, P. (2013), Economic Growth in MENA Countries: Is there Convergence of Per-capita GDPs? Journal of Policy Modeling,35(4), 669–683.
  • Apergis, N., Cooray, A. (2016), Old Wine in A New Bottle: Trade Openness and FDI Flows-Are the Emerging Economies Converging?.,Contemporary Economic Policy, 34(2), 336-351.
  • Apergis, N., & Georgellis, Y. (2013), Does Happiness Converge?, Journal of Happiness Studies,16 (1), 67-76.
  • Barro, R.J., Sala-I-Martin, X. (1992), Convergence, Journal of Political Economy, 100(2), 223- 251.
  • Bahmani-Oskooee, M., Chang, T., Elmi, Z. (M) ve Ranjbar, O. (2017), Re-Examination of the Convergence Hypothesis among OECD Countries: Evidence from Fourier Quantile Unit Root Test, International Economics,156,77-85.
  • Baumol, W.J. (1986), Productivity Growth, Convergence, and Welfare: What the Long–run Data Show, The American Economic Review, 76(5):1072–1085.
  • Bolea, L., Duarte, R., Choliz, J.S. (2018), From Convergence to Divergence? Some New Insights into the Evolution of the European Union, Structural Change and Economic Dynamics, 47, 82–95.
  • Borsi, M. T., Metiu, N. (2015), The Evolution of Economic Convergence in the European Union, Empirical Economics, 48(2), 657–681.
  • Cabral, R., Castellanos-Sosa, F.A. (2019), Europe’s Income Convergence and the Latest Global Financial Crisis, Research in Economics, 73 (1), 23–34.
  • Caggiano, G., Leonida, L. (2009), International Output Convergence: Evidence from an Autocorrelation Function Approach, Journal of Applied Econometrics, 24,139-162.
  • Canova, F. (2004), Testing for Convergence Clubs in Income Per-capita: A Predictive Density Approach, International Economic Review, 45(1),49–77.
  • Castellacci. F, Archibugi, D. (2008), The Technology Clubs: The Distribution of Knowledge Across Nations, Research Policy, 38(10), 1659–1673.
  • Cavallaro, E., Villani, I. (2021), Club Convergence in EU Countries: A Sectoral Perspective, Journal of Economic Integration, 36(1), 125-161.
  • Cellini, R., Scorcu, A. E. (2000), Segmented Stochastic Convergence Across the G-7 Countries, Empirical Economics, 25(3), 463–474.
  • Ceylan, R. (2010a), G-7 Ülkelerinin Yakınsama Deneyimi: 1870-2006, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 15(3), 311-324.
  • Ceylan, R. (2010b), Yakınsama Hipotezi: Teorik Tartışmalar, Sosyo-Ekonomi, 1, 47-60.
  • Ceylan, R., Telatar, E. ve Telatar, F. (2013), Real Convergence in Selected OECD Countries, Ege Academic Review, 13(2), 209-214.
  • Ceylan, R., Abiyev, V. (2016), An Examination of Convergence Hypothesis for EU-15 Countries, International Review of Economics & Finance, 45, 96–105.
  • Chapsa X., Katrakilidis C. ve Tabakis N. (2015), Investigating the Convergence Hypothesis in the EU: More Evidence Accounting for Structural Breaks, İçinde: Karasavvoglou A., Ongan S., Polychronidou P. (ed.) EU Crisis and the Role of the Periphery, Contributions to Economics. Springer.
  • Charles, A., Darne, O. ve Hoarau, J.F. (2012), Convergence of Real Per Capita GDP within COMESA Countries: A Panel Unit Root Evidence, The Annals of Regional Science, 49(1), 53–71.
  • Corrado, L., Martin, R., ve Weeks, M. (2005), Identifying and Interpreting Regional Convergence Clusters Across Europe, The Economic Journal, 115(502), C133–C160. Desli, E., Gkoulgkoutsika, A. (2020), World Economic Convergence: Does the Estimation Methodology Matter? Economic Modelling, 91, 138-147.
  • Desli, E., Gkoulgkoutsika, A. (2021), Economic Convergence Among The World’s Top-Income Economies, The Quarterly Review of Economics and Finance, 80, 841-853.
  • Dowrick S., Gemmell, N. (1991), Industrialisation, Catching-up and Economic Growth: A Comparative Study Across the World’s Capitalist Countries, The Economic Journal, 101(405), 263–275.
  • Dowrick S., Nguyen, D. (1989), OECD Comparative Economic Growth 1950–85: Catch-up and Convergence, American Economic Review, 79(5), 1010–1030.
  • Evans, P., Kim, J. U. (2011), Stochastic Convergence of the Catch-up Rate and Multiple Structural Breaks in Asian Countries, Economics Letters, 111(3),260–263.
  • Galor, O. (1996), Convergence? Inferences from Theoretical Models, The Economic Journal, 106 (437),1056-1069.
  • Ivanovski, K., Awaworyi Churchill, S. ve Smyth, R. (2018), A Club Convergence Analysis of Per Capita Energy Consumption Across Australian Regions and Sectors, Energy Economics, 76, 519–531.
  • Johnson, P, Takeyama, L. (2001), Initial Conditions and Economic Growth in the US States, European Economic Review, 45(4–6), 919–927.
  • Kang, S. J., Lee, M. (2005), Q-Convergence with Interquartile Ranges, Journal of Economic Dynamics & Control, 29(10), 1785–1806.
  • King, A., Ramlogan-Dobson, C. (2015), International Income Convergence: Is Latin America Actually Different? Economic Modelling, 49, 212–222.
  • Kourtzidis, S. A., Tzeremes, P., Tzeremes, N. G. ve Heryan, T. (2018), Integration of Tourism Markets in Australia: An İnternational Visitor Arrival’ Convergence, Assessment. Tourism Economics, 24(7), 901–907.
  • Li, K., Zhou, X. ve Pan, Z. (2016), Cross-Country Output Convergence and Growth: Evidence from Varying Coefficient Nonparametric Method, Economic Modelling, 55, 32-41.
  • Liu, L., Ruiz, I. (2006), Convergence Hypothesis: Evidence from Panel Unit Root Test with Spatial Dependence, Revista Ecos de Economía, 23, 37–56.
  • Marattin, L., Salotti, S. (2011), Productivity and Per Capita GDP Growth: The Role of the Forgotten Factors, Economic Modelling, 28(3), 1219–1225.
  • Monfort, M., Cuestas, J.C. ve Ordóñez, J. (2013), Real Convergence in Europe: A Cluster Analysis, Economic Modelling, 33,689-694.
  • Noguera-Santaella, J. (2017), Is Sub-Saharan Africa Catching up? Empirical Economics, 52(2), 555–575.
  • Quah, T. (1996), Regional Convergence Clusters across Europe, European Economic Review, 40(3):951 - 958.
  • Panopoulou, E., Pantelidis, T. (2009), Club Convergence in Carbon Dioxide Emissions, Environmental and Resource Economics, 44(1), 47–70.
  • Pesaran, M.H. (2007), A Pair-wise Approach to Testing for Output and Growth Convergence, Journal of Econometrics, 138 (1), 312–355.
  • Phillips, P. C. B., Sul, D. (2007), Transition Modeling and Econometric Convergence Tests, Econometrica, 75(6),1771-1855.
  • Phillips, P.C.B., Sul, D. (2009), Economic Transition and Growth. Journal of Applied Econometrics, 24 (7),1153–1185.
  • Saba, C.S., Ngepah, N. (2021), Military Expenditure, Security Outcome and Industrialisation in Africa: Evidence from a Panel Data Analysis, African Security Review, 30:2, 204-222.
  • Sichera, R., Pizzuto, P. (2019), Convergence Clubs: A Package for Performing the Phillips and Sul’s Club Convergence Clustering Procedure, The R Journal, 11:2, 142-151.
  • Solow, R. M. (1956), A Contribution to the Theory of Growth, Quarterly Journal of Economics, 70(1), 65-94.
There are 44 citations in total.

Details

Primary Language English
Journal Section Research Article
Authors

Reşat Ceylan 0000-0003-3727-6644

Şekip Yazgan 0000-0003-1006-668X

Project Number Çalışma bir projeden türetilmemiştir.
Publication Date March 28, 2022
Submission Date November 1, 2021
Published in Issue Year 2022 Volume: 20 Issue: 44

Cite

APA Ceylan, R., & Yazgan, Ş. (2022). Convergence of Output per Worker in G7 Countries: Evidence from the Club Convergence Test. Yönetim Bilimleri Dergisi, 20(44), 417-432. https://doi.org/10.35408/comuybd.1017185
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