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Is Asian per capita GDP panel stationary?

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Abstract

The goal of this paper is to examine whether per capita GDP for 15 Asian countries is panel stationary. We apply a panel test for stationarity that allows for multiple structural breaks developed by Carrion-i-Silvestre et al. (Econ J 8: 159–179, 2005). Our main findings are: (1) when we apply conventional tests, such as the ADF and KPSS univariate tests without structural breaks, we find little evidence for stationarity; (2) when we apply the KPSS univariate test with multiple structural breaks, we find evidence of stationarity for 10 out of 15 countries; and (3) when we apply the KPSS panel test with multiple structural breaks, we find overwhelming evidence of panel stationarity of per capita real GDP for different panels of Asian countries.

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Authors and Affiliations

  1. Griffith Business School, Department of Accounting, Finance and Economics, Gold Coast Campus, Griffith University, PMB 50, Gold Coast MC, QLD, 9726, Australia

    Paresh Kumar Narayan

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  1. Paresh Kumar Narayan
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Correspondence to Paresh Kumar Narayan.

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Narayan, P.K. Is Asian per capita GDP panel stationary?. Empirical Economics 34, 439–449 (2008). https://doi.org/10.1007/s00181-007-0129-2

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  • DOI: https://doi.org/10.1007/s00181-007-0129-2

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