IS REAL GDP STATIONARY? EVIDENCE FROM SOME UNIT ROOT TESTS FOR THE ADVANCED ECONOMIES

Hanifi Firat
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Hanifi Firat: Faculty of Economics and Administrative Sciences Dep.of Economics, Anadolu University,TURKEY

Journal of Social and Economic Statistics, 2016, vol. 5, issue 2, 60-80

Abstract: In this study, some tests (Augmented Dickey - Fuller (ADF), Phillips - Perron (PP), Kwiatkowski, Phillips Schmidt, Shin (KPSS) and Elliot, Rothenberg and Stock (ERS) that allow unit root test was performed firstly in singular sense about the developed countries, and then the IPS tests (Im KS, Pesaran MH, Shin Y (2003)) that allow unit root test in unbalanced panels, and the unit root test Pesaran CADF (2006) that allows panel unit root test in case the horizontal section dependency exists were performed. This study deals with the unit root hypothesis related to the real GDP (Gross Domestic Product) for 35 advanced economies, for the period of 1960 -2011.The results obtained from the unit root tests in applied singular and panel structures suggest that the null hypothesis must not be rejected.

Keywords: Real GDP; Unbalanced Panel Unit Root Tests; Cross Sectional Dependency; First and Second Generation Unit Root Tests (search for similar items in EconPapers)
JEL-codes: C20 C22 C40 C50 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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