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

  • Tsangyao Chang

    ()

  • Chia-Hao Lee

    ()

  • Pei-I Chou

    ()

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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File URL: http://hdl.handle.net/10.1007/s00181-011-0526-4
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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
DOI: 10.1007/s00181-011-0526-4
Contact details of provider: Web page: http://www.springer.com

Order Information: Web: http://www.springer.com/economics/econometrics/journal/181/PS2

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  1. Zivot, Eric & Andrews, Donald W K, 1992. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(3), pages 251-70, July.
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  11. Ralf Becker & Walter Enders & Junsoo Lee, 2006. "A Stationarity Test in the Presence of an Unknown Number of Smooth Breaks," Journal of Time Series Analysis, Wiley Blackwell, vol. 27(3), pages 381-409, 05.
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  16. Tsangyao Chang & Wen-Chi Liu & Shu-Chen Kang & Kuei-Chiu Lee, 2008. "Is Per Capita Real GDP Stationary in Latin American Countries? Evidence from a Panel Stationary Test with Structural Breaks," Economics Bulletin, AccessEcon, vol. 3(31), pages 1-12.
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