Contents of the volume

2019, Volume 72 - Issue 4

ISSN: 2499-8265
RSS feed citation: At RePEc
Publication date: 04 November 2019

1948-2018: FROM THE FREE-TRADE VISION TO PROTECTIONIST ATTITUDE

Nicola Acocella

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THE SUPPLY CHAIN ECONOMY: HOW FAR DOES IT SPREAD IN SPACE AND TIME?

Miroslav N. Jovanovic

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DISSECTING THE INPUT-OUTPUT STRUCTURE OF THE GREEK ECONOMY 2005-2010

Theodore Mariolis, Eirini Leriou, George Soklis

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TESTING FOR FINANCIAL MARKET INTEGRATION OF THE UAE MARKET WITH THE GLOBAL MARKET

Abdulnasser Hatemi-J, Safa Al-Mohana

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TESTING FOR CONVERGENCE IN PER CAPITA INCOME WITHIN ECOWAS

Emmanuel Anoruo

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DOES CORRUPTION HAMPER INWARD FDI IN SOUTH AFRICA FROM OTHER AFRICAN COUNTRIES? A GRAVITY MODEL ANALYSIS

Teboho Jeremiah Mosikari, Joel H. Eita, T. Confidence Nthebe

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ACKNOWLEDGEMENT TO REFEREES

Amedeo Amato

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Genoa Chamber of Commerce
Economia Internazionale / International Economics

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Corresponding author

Emmanuel ANORUO, Department of Accounting and Management Information Systems, Coppin State University, Baltimore, Mariland USA

Testing for Convergence in per capita Income within ECOWAS

Pages

493-512

Abstract

This paper tests for convergence in per capita income among ECOWAS member states. In particular, this paper applies the panel convergence procedure which has the ability to endogenously determine the existence of full convergence and convergence clubs. The study used the dip-test to check the robustness of the results from the panel convergence tests. To gain a better understanding of the issue of per capita income convergence within the community, the study is undertaken in three different time frames including the full, pre- and post-ECOWAS sample periods. The results reject the null hypothesis of full convergence in per capita income among ECOWAS member states during the full and two subsample periods. These results indicate that all of the countries have not converged to a single equilibrium state. However, the results did provide evidence of convergence clubs within ECOWAS member states during the full and two subsample periods. The results from the dip-test corroborate those from the panel convergence test in the sense that the null of hypothesis of full convergence is rejected. The failure to find evidence of full convergence highlights the need for ECOWAS member states to embark on more proactive economic policy coordination, especially in the areas of trade, fiscal and monetary policies.

JEL classification

F36, P44, P45

Keywords

Income Convergence, Convergence Club, ECOWAS, Dip-Test

Index

  1. Introduction
  2. Literature review
  3. Methodology
  4. Data and summary statistics
  5. Empirical results
  6. Summary and conclusions

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