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