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Is per capita real GDP stationary in five southeastern European countries? Fourier unit root test

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  • Tsangyao Chang

    ()

  • Chia-Hao Lee

    ()

  • Pei-I Chou

    ()

Abstract

This study uses the newly developed Fourier unit root test advanced by Enders and Lee ( 2004 , 2009 ) to investigate the time-series properties of real GDP (Gross Domestic Product) for five Southeastern European countries for the period from 1969 to 2009. The empirical results from several conventional unit root tests indicate that the per capita real GDP for all of the countries studied are non-stationary; however, when Enders and Lee ( 2004 , 2009 ) Fourier unit root tests are conducted, one rejects the unit root hypothesis of real GDP per capita in all countries under study. These results have important policy implications for these five Southeastern European countries under study. Copyright Springer-Verlag 2012

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Bibliographic Info

Article provided by Springer in its journal Empirical Economics.

Volume (Year): 43 (2012)
Issue (Month): 3 (December)
Pages: 1073-1082

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Handle: RePEc:spr:empeco:v:43:y:2012:i:3:p:1073-1082

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Keywords: Per capita real GDP; Stationary; Fourier unit root test; Southeastern European countries; C22; C23;

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