All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC

Vasudeva N. R. Murthy and Emmanuel Anoruo
''Are Per Capita Real GDP Series in African Countries Non-stationary or Non-linear? What does Empirical Evidence Reveal? ''
( 2009, Vol. 29 No.4 )
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.
Keywords: Mean reversion, non-linear unit root tests, GDP per capita
JEL: E1 - General Aggregative Models: General
C3 - Time-Series Models
Manuscript Received : Aug 18 2009 Manuscript Accepted : Oct 02 2009

  This abstract has been downloaded 1719 times                The Full PDF of this paper has been downloaded 154256 times