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Globalisation and Cointegration Among the States and Convergence Across the Continents: A Panel Data Analysis

23 Pages Posted: 1 Oct 2011  

U. K. De Sr.

North-Eastern Hill University (NEHU) - Department of Economics

Date Written: September 29, 2011

Abstract

This paper tried to examine the level of cointegration among various nations across the continents in regard to the globalisation. Also here attempt is made to analyse the nature of inter and intra continental variation in globalisation over time. The proximity and convergence over time in terms of the growth of globalisation is also examined by using a panel data set over a period of 1970 to 2007. The outcome reveals the presence of co-integration among the selected nations despite the fact that the European nations are more co-integrated than the other continents. It is followed by the countries in Africa and Asia. The proximity matrices of overall globalisation and political globalisation provided some important indications that geographical proximity, economic necessities, cultural and political understanding play crucial role in determining the clusters of countries in terms of globalisation or choice of the countries to open with other nations for trade, cultural exchange etc.

Keywords: Globalisation, Proximity, Stationarity, Cointegration, Regional Convergence, Panel Data

JEL Classification: H77, O57, O40, F43, C82, R1, R11

Suggested Citation

De, U. K., Globalisation and Cointegration Among the States and Convergence Across the Continents: A Panel Data Analysis (September 29, 2011). Available at SSRN: https://ssrn.com/abstract=1935688 or http://dx.doi.org/10.2139/ssrn.1935688

Utpal Kumar De Sr. (Contact Author)

North-Eastern Hill University (NEHU) - Department of Economics ( email )

Shillong, 703014
India

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