Studying on the Economic Convergence of Asian Economies——An Examination under Heterogeneous Endogenous Structural Breaks and Correlated Business Cycles
Studying on the Economic Convergence of Asian Economies——An Examination under Heterogeneous Endogenous Structural Breaks and Correlated Business Cycles
YANG Fan, TENG Jian-zhou
(School of Economics, Northeast Normal University, Changchun 130117, China)
Abstract Allowing for heterogeneous endogenous structural breaks and correlated business cycles, this paper studies the economic convergence in Asia and its sub-regions during 1978-2011. The results show that though economic convergence among all Asian economies does not occur, certain forms of economic convergence exist in some Asian sub-regions: deterministic convergence exists in West Asia and South Asia while stochastic convergence exists in Northeast Asia. Economic convergence among the richer economics is slower than that among the poorer economies. Moreover, except for Northeast Asia, we also find out that a negative correlation between economic development level and economic convergence speed in the West and South Asia.
YANG Fan,TENG Jian-Zhou. Studying on the Economic Convergence of Asian Economies——An Examination under Heterogeneous Endogenous Structural Breaks and Correlated Business Cycles. Economic Survey, 2014, 31(3): 054.
2014, Vol. 31 
