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IS Per Capita Real GDP Stationary in China¡H Evidence Based on A Panel SURADF Approach

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Author Info

  • Chi-Wei Su

    ()
    (Department of Finance, Providence University, Taichung, Taiwan)

  • Yi-Sung Huang

    ()
    (Southwestern University of Finance and Economics, and Ling Tung University, Taichung, Taiwan)

  • Peirchyi Lii

    ()
    (Department of Management Sciences, Tamkang University, Taipei, Taiwan)

  • Ning-Jun Zhang

    ()
    (Dean of School of Business Administration, Southwestern University of Finance and Economics)

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    Abstract

    In this study we use newly developed Panel SURADF tests of the Breuer et al., (2001) to investigate the time-series properties of 25 Chinese provinces¡¦ per capita real GDP for the 1952-1998 period. While the other Panel-based unit root tests are joint tests of a unit root for all members of the panel and are incapable of determining the mix of I(0) and I(1) series in the panel setting, the Panel SURADF tests a separate unit-root null hypothesis for each individual panel member and, therefore identifies how many and which series in the panel are stationary processes. The empirical results indicate that for all the provinces studied per capita real GDP are non-stationary, except Hebei, Jeilongjiang, Qinghai and Shaanxi when Breuer et al.¡¦s (2001) Panel SURADF tests are conducted.

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    File URL: http://www.accessecon.com/pubs/EB/2007/Volume3/EB-07C30037A.pdf
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    Bibliographic Info

    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 3 (2007)
    Issue (Month): 31 ()
    Pages: 1-12

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    Handle: RePEc:ebl:ecbull:eb-07c30037

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    Related research

    Keywords: Per Capita Real GDP Panel Unit Root Tests;

    References

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    1. MacDonald, Ronald, 1996. "Panel unit root tests and real exchange rates," Economics Letters, Elsevier, vol. 50(1), pages 7-11, January.
    2. Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992. "Efficient Tests for an Autoregressive Unit Root," NBER Technical Working Papers 0130, National Bureau of Economic Research, Inc.
    3. Breuer, Janice Boucher & McNown, Robert & Wallace, Myles S, 2001. "Misleading Inferences from Panel Unit-Root Tests with an Illustration from Purchasing Power Parity," Review of International Economics, Wiley Blackwell, vol. 9(3), pages 482-93, August.
    4. Cheung, Yin-Wong & Chinn, Menzie David, 1996. "Deterministic, Stochastic, and Segmented Trends in Aggregate Output: A Cross-Country Analysis," Oxford Economic Papers, Oxford University Press, vol. 48(1), pages 134-62, January.
    5. Fleissig, Adrian R. & Strauss, Jack, 1999. "Is OECD real per capita GDP trend or difference stationary? Evidence from panel unit root tests," Journal of Macroeconomics, Elsevier, vol. 21(4), pages 673-689.
    6. Serena Ng & Pierre Perron, 2001. "LAG Length Selection and the Construction of Unit Root Tests with Good Size and Power," Econometrica, Econometric Society, vol. 69(6), pages 1519-1554, November.
    7. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
    8. David E. Rapach, 2002. "Are Real GDP Levels Nonstationary? Evidence from Panel Data Tests," Southern Economic Journal, Southern Economic Association, vol. 68(3), pages 473-495, January.
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    Cited by:
    1. dogru, bulent, 2013. "Are Output Fluctuations Transitory in the MENA Region," MPRA Paper 51122, University Library of Munich, Germany.
    2. Lee, Kuei-Chiu, 2014. "Is per capita real GDP stationary in China? Sequential panel selection method," Economic Modelling, Elsevier, vol. 37(C), pages 507-517.

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