Is Per Capita Real GDP Stationary in Latin American Countries? Evidence from a Panel Stationary Test with Structural Breaks

Tsangyao Chang (), Kuei-Chiu Lee (), Shu-Chen Kang () and Wen-Chi Liu ()
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Tsangyao Chang: Department of Finance, Feng Chia University, Taichung, Taiwan
Kuei-Chiu Lee: Department of Cooperative Economics, Feng Chia University, Taichung, Taiwan.
Shu-Chen Kang: Department of Accounting, Feng Chia University, Taichung, Taiwan
Wen-Chi Liu: Department of Business Administration, Da Yeh University, Changhua, Taiwan

Economics Bulletin, 2008, vol. 3, issue 31, pages 1-12

Abstract: In this note, we use the newly-developed and refined panel stationary test with structural breaks, as advanced by Carrion-i-Silvestre et al. (2005), to investigate the time-series properties of per capita real GDP for 20 Latin American countries during the 1960-2000 period. The empirical results from numerous earlier panel-based unit root tests which do not take structural breaks into account indicate that the per capita real GDP for all the countries we study here are non-stationary; but when we employ Carrion-i-Silvestre et al.¡¦s (2005) panel stationary test with structural breaks, we find the null hypothesis of stationarity in per capita real GDP can not be rejected for any of the 20 countries.

Keywords: Per Capita Real GDP; Stationary; Panel Stationary Test with Structural Breaks (search for similar items in EconPapers)
JEL-codes: C3 O4 (search for similar items in EconPapers)
Date: 2008-05-30
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