A tale of six states: How similar are the Gulf Cooperation Council countries?
This paper reports the convergence rates for the Gulf Cooperation Council (GCC) countries using a Bayesian shrinkage estimator. The estimated convergence rates using a panel dataset covering period from 1972 to 2008 across six countries vary from 9% to 22% per year. The results of a Bayesian change point calculations indicate that following a dramatic change in the crude oil prices in 1985, the pattern of σ-convergence reversed. Based on the estimated steady states for each country, the rank order is hypothesized to be a function of the percentage of foreign workers in the labor force.
Year of publication: |
2014
|
---|---|
Authors: | Sagynbekov, Ken Imanak |
Published in: |
The Journal of International Trade & Economic Development. - Taylor & Francis Journals, ISSN 0963-8199. - Vol. 23.2014, 4, p. 476-490
|
Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
A tale of six states : how similar are the Gulf Cooperation Council Countries?
Sagynbekov, Ken Imanak, (2014)
- More ...