Disparities and Growth within APEC Countries, 1990-2011

Article


Vu, Xuan-Binh. 2015. "Disparities and Growth within APEC Countries, 1990-2011." Journal of Economic Integration. 30 (3), pp. 399-428. https://doi.org/10.11130/jei.2015.30.3.399
Article Title

Disparities and Growth within APEC Countries, 1990-2011

ERA Journal ID18414
Article CategoryArticle
Authors
AuthorVu, Xuan-Binh
Journal TitleJournal of Economic Integration
Journal Citation30 (3), pp. 399-428
Number of Pages30
Year2015
Place of PublicationRepublic of Korea
ISSN1225-651X
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.

KeywordsInter-Country Inequality, Regional Economic Integration, APEC Countries
ANZSRC Field of Research 2020380199. Applied economics not elsewhere classified
Byline AffiliationsGriffith University
Institution of OriginUniversity of Southern Queensland
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