Are Per Capita Real GDP Series in African Countries Non-stationary or Non-linear? What does Empirical Evidence Reveal?
AbstractThis paper extends the applied time series literature in economic development, by testing whether the per capita real GDP time series in 27 African countries are non-stationary or non-linear and globally stationary over the relatively long period from 1960 to 2007. Using the non- linear unit root tests developed recently by Kapetanios, Shin and Snell (2003) the results show that in one-third of the countries, the series are stationary with non-linear mean reversion. Policy implications are indicated.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 29 (2009)
Issue (Month): 4 ()
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Mean reversion; non-linear unit root tests; GDP per capita;
Find related papers by JEL classification:
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
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