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Is Per Capita Real GDP Stationary in Central and Eastern European Countries?

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  • Chi-Wei Su
  • Hsu-Ling Chang

Abstract

In this study we apply flexible Fourier stationarity unit root testing as proposed by Enders and Lee (2004, 2009) to assess the nonstationary properties of per capita real gross domestic product (GDP) for nine central and east European (CEE) countries. We find that the Fourier stationary unit root test has greater power than the linear method if the true data-generating process of per capita real GDP is in fact a stationary nonlinear process of an unknown form with structural change using low-frequency components. We investigate the stationarity of per capita real GDP from the nonlinear point of view and provide robust evidence clearly indicating that real output is well characterized by a nonlinear, mean-reverting process for three countries, namely, Bulgaria, Latvia, and Romania. These results have important policy implications for CEE countries.

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  • Chi-Wei Su & Hsu-Ling Chang, 2011. "Is Per Capita Real GDP Stationary in Central and Eastern European Countries?," Eastern European Economics, Taylor & Francis Journals, vol. 49(3), pages 54-65, May.
    • Handle: RePEc:mes:eaeuec:v:49:y:2011:i:3:p:54-65
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    Cited by:

    1. Phiri, Andrew, 2018. "Robust analysis of convergence in per capita GDP in BRICS economies," MPRA Paper 86936, University Library of Munich, Germany.
    2. Omid Ranjbar & Tsangyao Chang & Chien-Chiang Lee & Zahra (Mila) Elmi, 2016. "Reopening the Convergence Debate when Sharp Breaks and Smooth Shifts Wed, 1870-2010," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 20(3), pages 356-377, Summer.
    3. Iancu, Aurel & Olteanu, Dan Constantin, 2023. "Debt Limit, Fiscal Space and Fiscal Fatigue in the Central and Eastern European Countries of EU," Working Papers of National Institute for Economic Research 230629, Institutul National de Cercetari Economice (INCE).

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