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arXiv · 2304.12433

Long memory, fractional integration and cointegration analysis of real convergence in Spain

Mariam Kamal·Josu Arteche
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Abstract

This paper investigates economic convergence in terms of real income per capita among the autonomous regions of Spain. In order to converge, the series should cointegrate. This necessary condition is checked using two testing strategies recently proposed for fractional cointegration, finding no evidence of cointegration, which rules out the possibility of convergence between all or some of the Spanish regions. As an additional contribution, an extension of the critical values of one of the tests of fractional cointegration is provided for a different number of variables and sample sizes from those originally provided by the author, fitting those considered in this paper.

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Mariam Kamal, Josu Arteche. 2023-04-03. Long memory, fractional integration and cointegration analysis of real convergence in Spain. https://arxiv.org/abs/2304.12433

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