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Is GDP in ASEAN countries stationary? New evidence from panel unit root tests


  • Fumitaka Furuoka

    () (Universiti Malaysia Sabah)


This study investigated stationary process in real per capita Gross Domestic Product (GDP) in nine ASEAN countries, namely, Brunei, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. It employed both the ‘first generation' and the ‘second generation' of panel unit root tests for this purpose. Despite some differences in the findings, the empirical results suggested that per capita GDP had been characterized by a nonstationary process, as the results from the second generation of panel unit root tests indicated. This implies the presence of some common factors in these countries' GDP time series which would persist over time.

Suggested Citation

  • Fumitaka Furuoka, 2011. "Is GDP in ASEAN countries stationary? New evidence from panel unit root tests," Economics Bulletin, AccessEcon, vol. 31(2), pages 1391-1400.
  • Handle: RePEc:ebl:ecbull:eb-11-00255

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    References listed on IDEAS

    1. Josep Lluís Carrion-i-Silvestre & Tomás del Barrio-Castro & Enrique López-Bazo, 2005. "Breaking the panels: An application to the GDP per capita," Econometrics Journal, Royal Economic Society, vol. 8(2), pages 159-175, July.
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    Cited by:

    1. Chung-Fu Lai & Shan-Kai Tsa, 2015. "Diversified Currency Holdings and Exchange Rate Dynamics," International Journal of Economics and Financial Issues, Econjournals, vol. 5(3), pages 678-689.
    2. Yeboah Asuamah, Samuel, 2016. "Are output fluctuations transitory or permanent in Ghana?," MPRA Paper 70270, University Library of Munich, Germany.
    3. Gulbahar UCLER & Hale KIRMIZIOGLU, 2015. "The Reasons of Eurozone Sovereign Debt Crisis and an Empirical Analysis over Permanency of the Crisis," International Journal of Economics and Financial Issues, Econjournals, vol. 5(1), pages 86-96.

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    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development


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