Are Shocks to Real Output Permanent or Transitory? Evidence from a Panel of “Asean” Per Capita GDP Data

K. Suresh () and Aviral Tiwari
Authors registered in the RePEc Author Service: Suresh K.G. ()

Transition Studies Review, 2013, vol. 20, issue 2, 149-157

Abstract: Since economic theory provides reasons for nonlinearity in economic variables due to frictions/distortions in the economy, the use of linear unit root tests to examine the nonstationary properties of per-capita GDP (PCGDP) may provide misleading results. With this background we have analyzed the mean reversion properties of per capita real GDP of Association of South East Asian Nations (ASEAN) countries (for the period 1950–2010) using the recently developed Ucar and Omaga (Econ Lett 104:5–8, 2009 ) nonlinear panel unit root test. The results indicate that the PCGDP of ASEAN countries are nonlinear process and are stationary. Copyright CEEUN 2013

Keywords: Mean reversion; Panel unit root; ASEAN countries; Nonlinearity; Heterogeneous panel; C 01; C 23; O 01; O 04 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s11300-013-0282-6

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