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A Re‐examination of the Balassa–Samuelson Hypothesis Using Recent Panel Data Unit‐Root and Cointegration Tests: Evidence from MENA Countries

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  • Imed Drine
  • Christophe Rault

Abstract

The main goal of this paper is to reassess the Balassa-Samuelson hypothesis using annual data for 16 Middle East and North African (MENA) countries. We carry out recent panel data unit-root tests proposed by Im et al. (1997) and recent panel data cointegration techniques developed by Pedroni (1999) and we compare the results with those obtained with conventional time series unit-roots and cointegration tests. Our main finding is that whereas the standard time series approach rejects the Balassa-Samuelson hypothesis for 11 countries out of 16, new panel cointegration techniques rescue this hypothesis for MENA countries. © African Development Bank 2003.
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Suggested Citation

  • Imed Drine & Christophe Rault, 2003. "A Re‐examination of the Balassa–Samuelson Hypothesis Using Recent Panel Data Unit‐Root and Cointegration Tests: Evidence from MENA Countries," African Development Review, African Development Bank, vol. 15(2‐3), pages 106-125.
  • Handle: RePEc:adb:adbadr:848
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    Cited by:

    1. Eberechukwu UNEZE, 2011. "Foreign Aid And The Real Exchange Rate In The West African Economic And Monetary Union (Waemu)," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 11(1).
    2. Ansari, Dawud, 2016. "Resource curse contagion in the case of Yemen," Resources Policy, Elsevier, vol. 49(C), pages 444-454.
    3. Eberechukwu UNEZE, 2011. "Foreign Aid And The Real Exchange Rate In The West African Economic And Monetary Union (Waemu)," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 11(2).
    4. repec:rre:publsh:v:36:y:2006:i:3:p:400-426 is not listed on IDEAS

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