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A panel data approach to the income convergence among Mainland China, Hong Kong and Macao

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  • Chun Lei
  • Pui Tam
Abstract
This paper provides empirical evidence in support of income convergence among Mainland China, Hong Kong and Macao in the postreform era of Mainland China. Adopting the multieconomy income convergence model and employing the panel unit root testing techniques, this paper finds that relative incomes of Mainland China, Hong Kong and Macao have no tendency to deviate from one another in the long run. The occurrence of income convergence among these Chinese economies can be attributed to rapid growth on the Mainland China and Macao sides but relatively sluggish performance of Hong Kong in recent years. Macao can be regarded as playing a catalytic role in this long-run income convergence process. The finding of convergence indicates promising prospects for deepening economic cooperation and integration among the Chinese economies for their long-run sustainable economic growth.

Suggested Citation

  • Chun Lei & Pui Tam, 2010. "A panel data approach to the income convergence among Mainland China, Hong Kong and Macao," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 15(4), pages 420-435.
    • Handle: RePEc:taf:rjapxx:v:15:y:2010:i:4:p:420-435
    DOI: 10.1080/13547860.2010.516160
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    References listed on IDEAS

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    1. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
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    Cited by:

    1. Sallahuddin Hassan & Musa Murtala, 2016. "The Role of Domestic Private Investment in Promoting Per Capita Income Convergence amongst Association of Southeast Asian Nations-5 Economies," International Journal of Economics and Financial Issues, Econjournals, vol. 6(4), pages 1299-1303.
    2. Caviglia-Harris, Jill & Sills, Erin & Bell, Andrew & Harris, Daniel & Mullan, Katrina & Roberts, Dar, 2016. "Busting the Boom–Bust Pattern of Development in the Brazilian Amazon," World Development, Elsevier, vol. 79(C), pages 82-96.
    3. Mustafa Emre Ertu rul & Kemaletttin Tanr seven, 2018. "Analysis of Income Convergence in G-20 Countries with Structural Break Unit Root Test," International Journal of Economics and Financial Issues, Econjournals, vol. 8(2), pages 344-349.
    4. Pui Sun Tam, 2018. "Economic Transition and Growth Dynamics in Asia: Harmony or Discord?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(3), pages 361-387, September.

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