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CONVERGENCE EXPERIENCES IN EMERGING MARKET ECONOMIES: (1950-2008)

Yıl 2013, Cilt: 8 Sayı: 30, 5105 - 5121, 01.06.2013

Öz

In this paper, we study the GDP per capita convergence in emerging market economies for the period of 1950-2008. As the convergence in emerging market economies hasn’t been concerned as much as in the developed countries in the literature, hereby the situation of the convergence in emerging market economies is tried to be found out by the investigation. For this purpose, GDP per capita convergences in 25 developing countries were tested by ADF unit root test, Nahar and Inder (2002) Test and Kapetanios, Snell, and Shin (KSS) (2003) Test, which is based on the non-linear time series technique. While ADF unit root test allows to infer that there is convergence upon to the used series are stationary, the Nahar and Inder (2002) Test asserts that the existence of the convergence could also infer whether the used series are not stationary. On the other hand, the Kapetanios, Snell, and Shin (KSS) (2003) Test reveals that, if non-linear time series are stationary, the convergence could be inferred. In order to reach to the target aimed by the study, said tests were implemented. As per the results of Nahar and Inder (2002) Test, which emphasize that the existence of the convergence could be inferred whether the used series are not stationary? The findings show that there is

Kaynakça

  • Baumol, W. J. (1986). “Productivity Growth, Convergence and Welfare: What the Long-Run Data
  • Show?”, The American Economic Review, 76(5): 1072-1085.
  • Barro, R. J. (1991). “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106(2): 407-443.
  • Barro, R. J., and Sala-i Martin, X. (1990). “Economic Growth and Convergence Across the United
  • States”, NBER Working Paper No:3419.
  • Barro, R. J., and Sala-i Martin, X. (1992). “Convergence”. Journal of Political Economy, 100: 223-251.
  • Bernard, A. B., and Durlauf, S. N. (1995). “Convergence in International Output”, Journal of Applied Economics, 10(2):97-105.
  • Bernard, A. B., and Durlauf, S. N. (1996). “Interpreting Tests of the Convergence Hypothesis”, Journal of Econometrics, 71: 161-173.
  • Cheshire, P., and Carbonaro, G. (1995). “Convergence, Divergence in Regional Growth Rates: An
  • Empty Black Box?”, In H. Amstrong and R. Vickerman (eds)Convergence and Divergence among European Regions. London: 89-111. Cheshire, P., and Carbonaro, G. (1996). “Urban Economic Growth in Europe: Testing Theory and Policy Prescriptions”, Urban Studies, 33(7): 1111-1128.
  • DeLong, B. (1988). “Productivity Growth, Convergence, and Welfare: A Comment”, The American Economic Review, 78(5):1138-1154.
  • Dowrick, S., and Nguyen, D. (1989). “OECD Comparative Economic Growth 1950-1985: Catch-up and Convergence”, The American Economic Review, 79(5):110-130.
  • Evans, P. and Karras, G. (1996). “Convergence Revisited”, Journal of Monetary Economics, 37: 249- 2
  • Friedman, M. (1992). “Do Old Fallacies Ever Die?”. Journal of Economic Literature, 30:2129-2132.
  • Greasley, D., Oxley, L. (1997). “Time-series based tests of the convergence hypothesis: some positive results”, Economics Letters, 56(2): 143-147.
  • Islam, N. (1995). “Growth Empirics: A Panel Data Approach”, Quarterly Journal of Economics, 110:1127-1170.
  • Islam, N. (2003). “What Have We Learnt From The Convergence Debate?”, Journal of Economic Surveys, 17(3):309-362.
  • Lucas, E. R. Jr., (1988). “On the mechanics of economic development”, Journal of Monetary Economics, 22(1): 3-42.
  • Luukkonen, R., Saikkonen, P., Terasvirta, T. (1988). “Testing Linearity Against Smooth Transition
  • Autoregressive Models”, Biometrika, 75: 491-499. Kapetanios, G., Snell, Y., Shin, A. (2003). “Testing for Unit Rooting the Nonlinear STAR Framework”,
  • Journal of Econometrics, 112:359-379. King, R. G., Rebelo, S. T. (1989). Transitional Dynamics and Economic Growth in the Neoclassical
  • Model”, NBER Working Paper, No: 3185.
  • Madison, A. (1982). Phases of Capitalist Development, Oxford University Press, Oxford.
  • Mankiw, G. N., Romer, D., Weil, D. (1992). “A Contribution to the Empirics of Economic Growth”,
  • Quarterly Journal of Economics, 107: 407-437. Nahar, S., Inder, B. (2002). “Testing Convergence in Economic Growth for OECD Countries”, Applied Economics, 34: 2011-2022.
  • Quah, D. (1993). “Galton’s Fallacy and Tests of Convergence Hypothesis”, Scandinavian Journal of Economics, 95: 427-443.
  • Quah, D. (1996a). “Empirics for Economic Growth and Convergence”, European Economic Review, 40:1353-1375.
  • Quah, D. (1996b). “Convergence Empirics across Economies”, Journal of Economic Growth, 1:95-124.
  • Romer, P. M. (1986). “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94(5): 1002-1037.
  • Terasvirta, T., and, Anderson, H. M. (1992). “Characterizing nonlinearities in business cycles using smooth transition autoregressive models”, Journal of Applied Econometrics, 7:5119-5136.
  • Terasvirta, T. (1994). “Specification, Estimation, and Evaluation of Smooth Transition Autoregressive
  • Models”, Journal of the American Statistical Association, 89: 208-218.

GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008)

Yıl 2013, Cilt: 8 Sayı: 30, 5105 - 5121, 01.06.2013

Öz

Bu çalışmada 1950-2008 periyodundaki, gelişmekte olan piyasa ekonomilerindeki kişi başı gelir yakınsaması deneyimleri ele alınmaktadır. Gelişmekte olan piyasa ekonomilerindeki yakınsama literatürde gelişmiş ülkeler için olduğu kadar ilgi görmemiştir ve bundan dolayı bu çalışmayla gelişmekte olan piyasa ekonomilerindeki yakınsamanın durumu tespit edilmeye çalışılmaktadır. Bu amaçla gelişmekte olan 25 ülke ekonomisindeki kişi başı gelir yakınsaması standart ADF birim kök testi, Nahar ve Inder (2002) Testi ve doğrusal olmayan zaman serisi tekniğine dayanan KSS testi ile incelenmektedir. ADF birim kök testi incelenen serilerin durağan olması durumunda yakınsama çıkarımına izin verirken, Nahar ve Inder (2002) Testi ise incelenen serilerin durağan olmaması durumunda bile yakınsama çıkarımının yapılabileceğini ileri sürmektedir. Öte yandan KSS testi, doğrusal olmayan zaman serilerinde durağanlık bulgusunun yakınsama çıkarımı yaratacağını ortaya koymaktadır. Bu çalışmayla hedeflenen amaca ulaşabilmek için söz konusu testler uygulanmış olup ele alınan serilerin durağan olmaması durumunda bile yakınsama çıkarımının yapılabileceğini vurgulayan Nahar ve Inder (2002) Test sonuçlarına göre 25 piyasa ekonomisinden 18’inin örneklem ortalamasına doğru polynom–tipi yakınsama davranışı bulunmaktadır. Bununla birlikte, bulgular örneklem ülkelerinde herhangi bir doğrusal olmayan etki bulunmadığını ve Kapetanios, Snell, and Shin (KSS) (2003) Testi sonuçları ise örneklem ülkelerinde yakınsama bulgusu çıkarımı yapılamayacağını göstermektedir

Kaynakça

  • Baumol, W. J. (1986). “Productivity Growth, Convergence and Welfare: What the Long-Run Data
  • Show?”, The American Economic Review, 76(5): 1072-1085.
  • Barro, R. J. (1991). “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106(2): 407-443.
  • Barro, R. J., and Sala-i Martin, X. (1990). “Economic Growth and Convergence Across the United
  • States”, NBER Working Paper No:3419.
  • Barro, R. J., and Sala-i Martin, X. (1992). “Convergence”. Journal of Political Economy, 100: 223-251.
  • Bernard, A. B., and Durlauf, S. N. (1995). “Convergence in International Output”, Journal of Applied Economics, 10(2):97-105.
  • Bernard, A. B., and Durlauf, S. N. (1996). “Interpreting Tests of the Convergence Hypothesis”, Journal of Econometrics, 71: 161-173.
  • Cheshire, P., and Carbonaro, G. (1995). “Convergence, Divergence in Regional Growth Rates: An
  • Empty Black Box?”, In H. Amstrong and R. Vickerman (eds)Convergence and Divergence among European Regions. London: 89-111. Cheshire, P., and Carbonaro, G. (1996). “Urban Economic Growth in Europe: Testing Theory and Policy Prescriptions”, Urban Studies, 33(7): 1111-1128.
  • DeLong, B. (1988). “Productivity Growth, Convergence, and Welfare: A Comment”, The American Economic Review, 78(5):1138-1154.
  • Dowrick, S., and Nguyen, D. (1989). “OECD Comparative Economic Growth 1950-1985: Catch-up and Convergence”, The American Economic Review, 79(5):110-130.
  • Evans, P. and Karras, G. (1996). “Convergence Revisited”, Journal of Monetary Economics, 37: 249- 2
  • Friedman, M. (1992). “Do Old Fallacies Ever Die?”. Journal of Economic Literature, 30:2129-2132.
  • Greasley, D., Oxley, L. (1997). “Time-series based tests of the convergence hypothesis: some positive results”, Economics Letters, 56(2): 143-147.
  • Islam, N. (1995). “Growth Empirics: A Panel Data Approach”, Quarterly Journal of Economics, 110:1127-1170.
  • Islam, N. (2003). “What Have We Learnt From The Convergence Debate?”, Journal of Economic Surveys, 17(3):309-362.
  • Lucas, E. R. Jr., (1988). “On the mechanics of economic development”, Journal of Monetary Economics, 22(1): 3-42.
  • Luukkonen, R., Saikkonen, P., Terasvirta, T. (1988). “Testing Linearity Against Smooth Transition
  • Autoregressive Models”, Biometrika, 75: 491-499. Kapetanios, G., Snell, Y., Shin, A. (2003). “Testing for Unit Rooting the Nonlinear STAR Framework”,
  • Journal of Econometrics, 112:359-379. King, R. G., Rebelo, S. T. (1989). Transitional Dynamics and Economic Growth in the Neoclassical
  • Model”, NBER Working Paper, No: 3185.
  • Madison, A. (1982). Phases of Capitalist Development, Oxford University Press, Oxford.
  • Mankiw, G. N., Romer, D., Weil, D. (1992). “A Contribution to the Empirics of Economic Growth”,
  • Quarterly Journal of Economics, 107: 407-437. Nahar, S., Inder, B. (2002). “Testing Convergence in Economic Growth for OECD Countries”, Applied Economics, 34: 2011-2022.
  • Quah, D. (1993). “Galton’s Fallacy and Tests of Convergence Hypothesis”, Scandinavian Journal of Economics, 95: 427-443.
  • Quah, D. (1996a). “Empirics for Economic Growth and Convergence”, European Economic Review, 40:1353-1375.
  • Quah, D. (1996b). “Convergence Empirics across Economies”, Journal of Economic Growth, 1:95-124.
  • Romer, P. M. (1986). “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94(5): 1002-1037.
  • Terasvirta, T., and, Anderson, H. M. (1992). “Characterizing nonlinearities in business cycles using smooth transition autoregressive models”, Journal of Applied Econometrics, 7:5119-5136.
  • Terasvirta, T. (1994). “Specification, Estimation, and Evaluation of Smooth Transition Autoregressive
  • Models”, Journal of the American Statistical Association, 89: 208-218.
Toplam 32 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Burak Çamurdan Reşat Ceylan Bu kişi benim

Burak Çamurdan Bu kişi benim

Resat Ceylan Bu kişi benim

Yayımlanma Tarihi 1 Haziran 2013
Yayımlandığı Sayı Yıl 2013 Cilt: 8 Sayı: 30

Kaynak Göster

APA Ceylan, B. Ç. . R., Çamurdan, B., & Ceylan, R. (2013). GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008). Yaşar Üniversitesi E-Dergisi, 8(30), 5105-5121. https://doi.org/10.19168/jyu.23288
AMA Ceylan BÇR, Çamurdan B, Ceylan R. GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008). Yaşar Üniversitesi E-Dergisi. Haziran 2013;8(30):5105-5121. doi:10.19168/jyu.23288
Chicago Ceylan, Burak Çamurdan Reşat, Burak Çamurdan, ve Resat Ceylan. “GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008)”. Yaşar Üniversitesi E-Dergisi 8, sy. 30 (Haziran 2013): 5105-21. https://doi.org/10.19168/jyu.23288.
EndNote Ceylan BÇR, Çamurdan B, Ceylan R (01 Haziran 2013) GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008). Yaşar Üniversitesi E-Dergisi 8 30 5105–5121.
IEEE B. Ç. . R. Ceylan, B. Çamurdan, ve R. Ceylan, “GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008)”, Yaşar Üniversitesi E-Dergisi, c. 8, sy. 30, ss. 5105–5121, 2013, doi: 10.19168/jyu.23288.
ISNAD Ceylan, Burak Çamurdan Reşat vd. “GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008)”. Yaşar Üniversitesi E-Dergisi 8/30 (Haziran 2013), 5105-5121. https://doi.org/10.19168/jyu.23288.
JAMA Ceylan BÇR, Çamurdan B, Ceylan R. GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008). Yaşar Üniversitesi E-Dergisi. 2013;8:5105–5121.
MLA Ceylan, Burak Çamurdan Reşat vd. “GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008)”. Yaşar Üniversitesi E-Dergisi, c. 8, sy. 30, 2013, ss. 5105-21, doi:10.19168/jyu.23288.
Vancouver Ceylan BÇR, Çamurdan B, Ceylan R. GELİŞMEKTE OLAN PİYASA EKONOMİLERİNİN YAKINSAMA DENEYİMLERİ: (1950-2008). Yaşar Üniversitesi E-Dergisi. 2013;8(30):5105-21.