Are interest rates unit root in Ghana? An Empirical Assessment

Samuel Yeboah

MPRA Paper from University Library of Munich, Germany

Abstract: The paper examines the hypothesis of unit roots in interest rates [Proxied by Treasury bill-T-bill- rates (91-day T-bill rate, 182-day T-bill rate, and 1-year T-bill rate] for Ghana for the period 2007 to 2013, using monthly data. The test was performed by employing the Augmented Dickey-Fuller (ADF) test and the Kwiatkwski, Phillips, Schmidt and shin (KPSS). The results of the tests indicate T-bill rates have unit root in levels supporting the unit root hypothesis for Ghana.

Keywords: Treasury bill rate; Interest rate, Unit Root (search for similar items in EconPapers)
JEL-codes: E43 E44 G12 (search for similar items in EconPapers)
Date: 2017-09-25
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:99420

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