Disparities and Growth within APEC Countries, 1990-2011
Article
Article Title | Disparities and Growth within APEC Countries, 1990-2011 |
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ERA Journal ID | 18414 |
Article Category | Article |
Authors | |
Author | Vu, Xuan-Binh |
Journal Title | Journal of Economic Integration |
Journal Citation | 30 (3), pp. 399-428 |
Number of Pages | 30 |
Year | 2015 |
Place of Publication | Republic of Korea |
ISSN | 1225-651X |
1976-5525 | |
Digital Object Identifier (DOI) | https://doi.org/10.11130/jei.2015.30.3.399 |
Web Address (URL) | https://www.e-jei.org/journal/view.php?doi=10.11130/jei.2015.30.3.399 |
Abstract | This paper examines output disparities between the Asia-Pacific Economic Cooperation countries during the period 1990~2011. The results show that inter-country levels of output per capita diverged over the study period but there was a clear break in the trend around 1998. Applying the time-varying individual common factor model, we found that all countries could be grouped into three convergence clubs. Focusing on the time path of each country’s output level relative to that of a reference economy such as the United States of America and allowing for possible structural breaks, we found that more countries converged towards the USA during the sub-period 1999~2011. The findings also suggest that the Asia-Pacific Economic Cooperation could have played some role in diminishing the output inequality between its member countries after the Asia-Pacific Economic Cooperation reached its current extent in 1998. Likewise, the paper suggests a need to reduce the wide income gap among the Asia-Pacific Economic Cooperation countries to promote their economic integration. |
Keywords | Inter-Country Inequality, Regional Economic Integration, APEC Countries |
ANZSRC Field of Research 2020 | 380199. Applied economics not elsewhere classified |
Byline Affiliations | Griffith University |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q6855/disparities-and-growth-within-apec-countries-1990-2011
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