Abstract
This 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.
| Original language | English |
|---|---|
| Pages (from-to) | 2492-2504 |
| Number of pages | 13 |
| Journal | Economics Bulletin |
| Volume | 29 |
| Issue number | 4 |
| State | Published - 2009 |
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All Science Journal Classification (ASJC) codes
- Economics, Econometrics and Finance(all)
Cite this
Are per capita real GDP series in African countries non-stationary or nonlinear? What does Empirical Evidence Reveal? / Murthy, Vasudeva N. R.; Anoruo, Emmanuel.
In: Economics Bulletin, Vol. 29, No. 4, 2009, p. 2492-2504.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Are per capita real GDP series in African countries non-stationary or nonlinear? What does Empirical Evidence Reveal?
AU - Murthy, Vasudeva N. R.
AU - Anoruo, Emmanuel
PY - 2009
Y1 - 2009
N2 - This 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.
AB - This 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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UR - http://www.scopus.com/inward/citedby.url?scp=77953596770&partnerID=8YFLogxK
M3 - Article
VL - 29
SP - 2492
EP - 2504
JO - Economics Bulletin
JF - Economics Bulletin
SN - 1545-2921
IS - 4
ER -