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 (US)|
|Number of pages||13|
|State||Published - Dec 1 2009|
All Science Journal Classification (ASJC) codes
- Economics, Econometrics and Finance(all)