Are Per Capita Real GDP Series in African Countries Non-stationary or Non-linear? What does Empirical Evidence Reveal?

Vasudeva Murthy (vasudevamurthy@creighton.edu) and Emmanuel Anoruo
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Vasudeva Murthy: College of Business Administration, Creighton University

Economics Bulletin, 2009, vol. 29, issue 4, 2492-2504

Abstract: 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 (search for similar items in EconPapers)
JEL-codes: C3 E1 (search for similar items in EconPapers)
Date: 2009-10-02
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Citations: View citations in EconPapers (7)

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