Unit roots versus segmented trends in developing country output series

Matthias Lutz

Applied Economics Letters, 1999, vol. 6, issue 3, 181-184

Abstract: This paper examines the null hypothesis that output series contain a unit root against the alternative of a segmented trend in a representative sample of 31 developing countries. Nearly two-thirds of the countries reject the unit root hypothesis at least once in favour of a segmented trend representation. A large majority of endogenously determined structural breaks occur around the time of the first or the second oil price shock, and are of negative sign.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:6:y:1999:i:3:p:181-184

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DOI: 10.1080/135048599353591

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