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G-7 Ülkelerinde Kişi Başı Reel GSYİH Durağan Mıdır? Fourier Panel Birim Kök Testinden Yeni Kanıtlar

Year 2021, Volume: 22 Issue: 2, 123 - 144, 08.11.2021

Tunahan Hacıimamoğlu

https://doi.org/10.37880/cumuiibf.948351

Abstract

Makroekonomik değişkenlerin istikrarı ve bu değişkenler üzerinde görülen bir şokun etkisinin kalıcı mı yoksa geçici mi olduğu politika yapıcılar ve araştırmacılar için önemlidir. Büyüme ve refahın bir göstergesi olarak gayri safi yurt içi hasıla (GSYİH) ise önemli makroekonomik değişkenler arasında yer almaktadır. Bununla birlikte güncel panel veri analizi tekniklerinin geleneksel yöntemlere göre sahip olduğu avantajlar nedeni ile GSYİH için birim kökün varlığının analiz edilmesinde bahsi geçen yöntemlerin kullanılması önem arz etmektedir. Bu doğrultuda bu çalışmanın amacı yatay kesit bağımlılığını, çok faktörlü yapıyı ve yapısal değişimleri dikkate alan daha güçlü yeni bir birim kök testi (BCIPS) ile 1970-2019 dönemi için G-7 ülkelerinde kişi başı reel GSYİH verisinin durağan bir süreç izleyip izlemediğini araştırmaktır. Analiz sonuçları G-7 ülkeleri için kişi başı reel GSYİH verisinin durağan bir yapıya sahip olduğunu ortaya koymaktadır. Elde edilen sonuç bağlamında G-7 ülkelerinde ortaya çıkan bir şokun etkisinin geçici olduğu dolayısıyla çıktıda ortaya çıkan herhangi bir dalgalanma sürecine para veya maliye politikası araçları ile müdahale edilmesine gerek görülmediği tespit edilmiştir.

Keywords

BCIPS Birim-Kök Testi Durağanlık G-7 Ülkeleri Kişi Başı Reel GSYİH.

Supporting Institution

Çalışma herhangi bir kurum tarafından desteklenmemektedir.

Thanks

Çalışmalarıma sunduğu katkılardan dolayı Doç. Dr. Salih TÜREDİ ve Arş. Gör. Harun SARAÇ'a şükranlarımı arz ederim.

References

  • Aslanidis, N., & Fountas, S. (2014). Is real GDP stationary? Evidence from a panel unit root test with cross-sectional dependence and historical data. Empirical Economics, 46(1), 101-108.
  • Azimi, D., & Naim, M. (2015). A Unit Root Hypothesis: Is Afghanistan Real GDP Per Capita stationery? (A Case Study for the Period 2001 to 2014). Journal of Economics and Business Research, 1(1).
  • Bai, J., & Ng, S. (2004). A PANIC attack on unit roots and cointegration. Econometrica, 72(4), 1127-1177.
  • Bai, J., & Ng, S. (2010). Panel unit root tests with cross-section dependence: a further investigation. Econometric Theory, 1088-1114.
  • Banerjee, A. (1999). Panel data unit roots and cointegration: an overview. Oxford Bulletin of economics and Statistics, 61(S1), 607-629.
  • Becker, R., Enders, W., & Lee, J. (2006). A stationarity test in the presence of an unknown number of smooth breaks. Journal of Time Series Analysis, 27(3), 381-409.
  • Ben-David, D., & Papell, D. H. (1995). The great wars, the great crash, and steady-state growth: Some new evidence about an old stylized fact. Journal of Monetary Economics, 36(3), 453-475.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239-253.
  • Campbell, J. Y., & Mankiw, N. G. (1987). Are output fluctuations transitory?. The Quarterly Journal of Economics, 102(4), 857-880.
  • Carrion‐i‐Silvestre, J., Del Barrio‐Castro, T., & López‐Bazo, E. (2005). Breaking the panels: an application to the GDP per capita. The Econometrics Journal, 8(2), 159-175.
  • Cerrato, M., & Sarantis, N. (2007). A bootstrap panel unit root test under cross-sectional dependence, with an application to PPP. Computational Statistics & Data Analysis, 51(8), 4028-4037.
  • Chang, T., Chu, H. P., & Ranjbar, O. (2014). Are GDP fluctuations transitory or permanent in African countries? Sequential Panel Selection Method. International Review of Economics & Finance, 29, 380-399.
  • Chang, Y. (2002). Nonlinear IV unit root tests in panels with cross-sectional dependency. Journal of econometrics, 110(2), 261-292.
  • Chang, Y. (2004). Bootstrap unit root tests in panels with cross-sectional dependency. Journal of econometrics, 120(2), 263-293.
  • Chang, T. (2005). Is per capita real GDP stationary? Evidence from selected African countries based on more powerful nonlinear (logistic) unit root tests. In Economics Bulletin. Chen, S. W. (2008). Are 19 Developed Countries' Real Per Capita GDP levels Non-stationary? A Revisit. Economics Bulletin, 3(2), 1-11.
  • Cheung, Y. W., & Chinn, M. D. (1996). Deterministic, stochastic, and segmented trends in the aggregate output: a cross-country analysis. Oxford Economic Papers, 48(1), 134-162.
  • Cushman, D. O. (2016). A unit root in postwar US real GDP still cannot be rejected, and yes, it matters. Econ Journal Watch, 13(1), 5-45.
  • ÇINAR, S. (2010). OECD ÜLKELERİNDE KİŞİ BAŞI GSYİH DURAĞAN MI? PANEL VERİ ANALİZİ. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 29(2), 591-601.
  • Enders, W., & Lee, J. (2012). A unit root test using a Fourier series to approximate smooth breaks. Oxford Bulletin of Economics and Statistics, 74(4), 574-599.
  • Evans, G. W. (1989). A measure of the US output gap. Economics Letters, 29(4), 285-289.
  • Firat, H. (2016). Is real GDP stationary? Evidence from some unit root tests for the advanced economies. Journal of Social and Economic Statistics, 5(2), 60-80.
  • Guloglu, B., & İvrendi, M. (2010). Output fluctuations: transitory or permanent? the case of Latin America. Applied Economics Letters, 17(4), 381-386.
  • Im, K. S., Lee, J., & Tieslau, M. (2005). Panel LM unit‐root tests with level shifts. Oxford Bulletin of Economics and Statistics, 67(3), 393-419.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of econometrics, 115(1), 53-74.
  • KONAT, G., & KIZILKAYA, O. (2020). Seçilmiş OECD Ülkelerinde GSYİH Durağanlık Sınaması: Keskin ve Yumuşak Kırılmalı Panel Durağanlık Testi. Bitlis Eren Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Akademik İzdüşüm Dergisi, 5(2), 216-226.
  • Lee, K. C. (2014). Is per capita real GDP stationary in China? Sequential panel selection method. Economic Modelling, 37, 507-517.
  • Lee, C., Wu, J. L., & Yang, L. (2016). A Simple Panel Unit‐Root Test with Smooth Breaks in the Presence of a Multifactor Error Structure. Oxford Bulletin of Economics and Statistics, 78(3), 365-393.
  • Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of econometrics, 108(1), 1-24.
  • Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42.
  • Maddala, G. S., & Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61(S1), 631-652.
  • Menyah, K., Nazlioglu, S., & Wolde-Rufael, Y. (2014). Financial development, trade openness and economic growth in African countries: New insights from a panel causality approach. Economic Modelling, 37, 386-394.
  • Moon, H. R., & Perron, B. (2004). Testing for a unit root in panels with dynamic factors. Journal of econometrics, 122(1), 81-126.
  • Murray, C. J., & Nelson, C. R. (2000). The uncertain trend in US GDP. Journal of Monetary Economics, 46(1), 79-95.
  • Murthy, V. N., & Anoruo, E. (2009). Are Per Capita Real GDP Series in African Countries Non-stationary or Non-linear? What does Empirical Evidence Reveal?''. Economics Bulletin, 29(4), 2492-2504.
  • Narayan, P. K. (2007). Are G7 per capita real GDP levels non-stationary, 1870–2001?. Japan and the World Economy, 19(3), 374-379.
  • Nelson, C. R., & Plosser, C. R. (1982). Trends and random walks in macroeconomic time series: some evidence and implications. Journal of monetary economics, 10(2), 139-162.
  • Omay, T. (2015). Fractional frequency flexible Fourier form to approximate smooth breaks in unit root testing. Economics Letters, 134, 123-126.
  • Omay, T., Gupta, R., & Bonaccolto, G. (2017). The US real GNP is trend-stationary after all. Applied Economics Letters, 24(8), 510-514.
  • Ozturk, I., & Kalyoncu, H. (2007). Is Per Capita Real GDP Stationary in the OECD Countries? Evidence from a Panel Unit Root Test.
  • Perron, P., & Phillips, P. C. (1987). Does GNP have a unit root?: A re-evaluation. Economics Letters, 23(2), 139-145.
  • Pesaran, M. H. (2004). General diagnostic tests for cross-sectional dependence in panels.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
  • Pesaran, M. H., Smith, L. V., & Yamagata, T. (2013). Panel unit root tests in the presence of a multifactor error structure. Journal of Econometrics, 175(2), 94-115.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross-section independence. The Econometrics Journal, 11(1), 105-127.
  • Phillips, P. C., & Sul, D. (2003). Dynamic panel estimation and homogeneity testing under cross section dependence. The Econometrics Journal, 6(1), 217-259.
  • Rapach, D. E. (2002). Are real GDP levels nonstationary? Evidence from panel data tests. Southern Economic Journal, 473-495.
  • Rodrigues, P. M., & Robert Taylor, A. M. (2012). The flexible fourier form and local generalized least squares de‐trended unit root tests. Oxford Bulletin of Economics and Statistics, 74(5), 736-759.
  • Romer, P. M. (1989). Human capital and growth: Theory and evidence (No. w3173). National Bureau of Economic Research.
  • Rudebusch, G. (1993). The Uncertain Unit Root in Real GNP (pp. 264-272). American Economic Review.
  • Sargan, J. D., & Bhargava, A. (1983). Testing residuals from least squares regression for being generated by the Gaussian random walk. Econometrica: Journal of the Econometric Society, 153-174.
  • Smith, L. V., Leybourne, S., Kim, T. H., & Newbold, P. (2004). More powerful panel data unit root tests with an application to mean reversion in real exchange rates. Journal of Applied Econometrics, 19(2), 147-170.
  • Smyth, R. (2003). Is there a unit root in per capita real GDP? Panel data evidence from Chinese provinces. Asian Profile, 31(4), 289-296.
  • Smyth, R., & Inder, B. (2004). Is Chinese provincial real GDP per capita nonstationary?: Evidence from multiple trend break unit root tests. China Economic Review, 15(1), 1- 24.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.
  • Stock, J. H., & Watson, M. W. (1986). Does GNP have a unit root?. Economics Letters, 22(2-3), 147-151.
  • Strauss, J. (2000). Is there a permanent component in US real GDP. Economics Letters, 66(2), 137-142.
  • Stulz, R. M., & Wasserfallen, W. (1985, January). Macroeconomic time-series, business cycles, and macroeconomic policies. In Carnegie-Rochester Conference Series on Public Policy (Vol. 22, pp. 9-53). North-Holland.
  • Su, C. W., & Chang, H. L. (2011). Is per capita real GDP stationary in Central and Eastern European countries? Evidence from the flexible Fourier test. Eastern European Economics, 54-65.
  • Tiwari, A. K., Chaudhari, A., & Suresh, K. G. (2012). Are Asian per capita GDP stationary? Evidence from first and second-generation panel unit root tests. Transition Studies Review, 19(1), 3-11.
  • TÜLÜMCE, S. Y., & Zeren, F. (2013). Is The Real Per Capita GDP Stationary in the European Union Member States? New Evidence From the Unit Root Test in Nonlinear Heterogeneous Panel. Social Sciences, 8(3), 106-115.
  • Zeren, F., & İşlek, H. 4 Is Per Capita Real GDP Stationary in the D-8 Countries? Evidence from a Panel Unit Root Test.
  • Zhang, N. J. (2007). Peirchyi Lii, Yi-Sung Huang, and Chi-Wei Su,(2007)" IS Per Capita Real GDP Stationary in China¡ H Evidence Based on A Panel SURADF Approach.". Economics Bulletin, 3(31), 1-12.

Is Per Capita Real GDP Stationary in G-7 Countries? New Evidence from A Fourier Panel Unit Root Test

Year 2021, Volume: 22 Issue: 2, 123 - 144, 08.11.2021

Tunahan Hacıimamoğlu

https://doi.org/10.37880/cumuiibf.948351

Abstract

The stability of macroeconomic variables and whether the impact of a shock on these variables is permanent or temporary is important for policy-makers and researchers. As an indicator of growth and prosperity, gross domestic product (GDP) is among the important macroeconomic variables. After all, due to the advantages of current panel data analysis techniques over conventional methods, it is important to use the aforementioned methods in analyzing the existence of unit-root for GDP. Accordingly, the aim of this study is to investigate whether per capita real GDP in G-7 countries followed a stationary process between 1970-2019 with a stronger unit-root test (BCIPS) that takes into consideration cross-section dependence, multi-factor structure, and structural changes. Empirical results reveal that per capita real GDP for G-7 countries has a stationary structure. In this context, it has been determined that the impact of a shock on per capita real GDP is temporary in G-7 countries, therefore, by means of monetary or fiscal policy instruments, it is not necessary to intervene in fluctuations occurring the output level.

Keywords

BCIPS Unit-root Test Stationarity G-7 Countries Per Capita Real GDP

References

  • Aslanidis, N., & Fountas, S. (2014). Is real GDP stationary? Evidence from a panel unit root test with cross-sectional dependence and historical data. Empirical Economics, 46(1), 101-108.
  • Azimi, D., & Naim, M. (2015). A Unit Root Hypothesis: Is Afghanistan Real GDP Per Capita stationery? (A Case Study for the Period 2001 to 2014). Journal of Economics and Business Research, 1(1).
  • Bai, J., & Ng, S. (2004). A PANIC attack on unit roots and cointegration. Econometrica, 72(4), 1127-1177.
  • Bai, J., & Ng, S. (2010). Panel unit root tests with cross-section dependence: a further investigation. Econometric Theory, 1088-1114.
  • Banerjee, A. (1999). Panel data unit roots and cointegration: an overview. Oxford Bulletin of economics and Statistics, 61(S1), 607-629.
  • Becker, R., Enders, W., & Lee, J. (2006). A stationarity test in the presence of an unknown number of smooth breaks. Journal of Time Series Analysis, 27(3), 381-409.
  • Ben-David, D., & Papell, D. H. (1995). The great wars, the great crash, and steady-state growth: Some new evidence about an old stylized fact. Journal of Monetary Economics, 36(3), 453-475.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239-253.
  • Campbell, J. Y., & Mankiw, N. G. (1987). Are output fluctuations transitory?. The Quarterly Journal of Economics, 102(4), 857-880.
  • Carrion‐i‐Silvestre, J., Del Barrio‐Castro, T., & López‐Bazo, E. (2005). Breaking the panels: an application to the GDP per capita. The Econometrics Journal, 8(2), 159-175.
  • Cerrato, M., & Sarantis, N. (2007). A bootstrap panel unit root test under cross-sectional dependence, with an application to PPP. Computational Statistics & Data Analysis, 51(8), 4028-4037.
  • Chang, T., Chu, H. P., & Ranjbar, O. (2014). Are GDP fluctuations transitory or permanent in African countries? Sequential Panel Selection Method. International Review of Economics & Finance, 29, 380-399.
  • Chang, Y. (2002). Nonlinear IV unit root tests in panels with cross-sectional dependency. Journal of econometrics, 110(2), 261-292.
  • Chang, Y. (2004). Bootstrap unit root tests in panels with cross-sectional dependency. Journal of econometrics, 120(2), 263-293.
  • Chang, T. (2005). Is per capita real GDP stationary? Evidence from selected African countries based on more powerful nonlinear (logistic) unit root tests. In Economics Bulletin. Chen, S. W. (2008). Are 19 Developed Countries' Real Per Capita GDP levels Non-stationary? A Revisit. Economics Bulletin, 3(2), 1-11.
  • Cheung, Y. W., & Chinn, M. D. (1996). Deterministic, stochastic, and segmented trends in the aggregate output: a cross-country analysis. Oxford Economic Papers, 48(1), 134-162.
  • Cushman, D. O. (2016). A unit root in postwar US real GDP still cannot be rejected, and yes, it matters. Econ Journal Watch, 13(1), 5-45.
  • ÇINAR, S. (2010). OECD ÜLKELERİNDE KİŞİ BAŞI GSYİH DURAĞAN MI? PANEL VERİ ANALİZİ. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 29(2), 591-601.
  • Enders, W., & Lee, J. (2012). A unit root test using a Fourier series to approximate smooth breaks. Oxford Bulletin of Economics and Statistics, 74(4), 574-599.
  • Evans, G. W. (1989). A measure of the US output gap. Economics Letters, 29(4), 285-289.
  • Firat, H. (2016). Is real GDP stationary? Evidence from some unit root tests for the advanced economies. Journal of Social and Economic Statistics, 5(2), 60-80.
  • Guloglu, B., & İvrendi, M. (2010). Output fluctuations: transitory or permanent? the case of Latin America. Applied Economics Letters, 17(4), 381-386.
  • Im, K. S., Lee, J., & Tieslau, M. (2005). Panel LM unit‐root tests with level shifts. Oxford Bulletin of Economics and Statistics, 67(3), 393-419.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of econometrics, 115(1), 53-74.
  • KONAT, G., & KIZILKAYA, O. (2020). Seçilmiş OECD Ülkelerinde GSYİH Durağanlık Sınaması: Keskin ve Yumuşak Kırılmalı Panel Durağanlık Testi. Bitlis Eren Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Akademik İzdüşüm Dergisi, 5(2), 216-226.
  • Lee, K. C. (2014). Is per capita real GDP stationary in China? Sequential panel selection method. Economic Modelling, 37, 507-517.
  • Lee, C., Wu, J. L., & Yang, L. (2016). A Simple Panel Unit‐Root Test with Smooth Breaks in the Presence of a Multifactor Error Structure. Oxford Bulletin of Economics and Statistics, 78(3), 365-393.
  • Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of econometrics, 108(1), 1-24.
  • Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42.
  • Maddala, G. S., & Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61(S1), 631-652.
  • Menyah, K., Nazlioglu, S., & Wolde-Rufael, Y. (2014). Financial development, trade openness and economic growth in African countries: New insights from a panel causality approach. Economic Modelling, 37, 386-394.
  • Moon, H. R., & Perron, B. (2004). Testing for a unit root in panels with dynamic factors. Journal of econometrics, 122(1), 81-126.
  • Murray, C. J., & Nelson, C. R. (2000). The uncertain trend in US GDP. Journal of Monetary Economics, 46(1), 79-95.
  • Murthy, V. N., & Anoruo, E. (2009). Are Per Capita Real GDP Series in African Countries Non-stationary or Non-linear? What does Empirical Evidence Reveal?''. Economics Bulletin, 29(4), 2492-2504.
  • Narayan, P. K. (2007). Are G7 per capita real GDP levels non-stationary, 1870–2001?. Japan and the World Economy, 19(3), 374-379.
  • Nelson, C. R., & Plosser, C. R. (1982). Trends and random walks in macroeconomic time series: some evidence and implications. Journal of monetary economics, 10(2), 139-162.
  • Omay, T. (2015). Fractional frequency flexible Fourier form to approximate smooth breaks in unit root testing. Economics Letters, 134, 123-126.
  • Omay, T., Gupta, R., & Bonaccolto, G. (2017). The US real GNP is trend-stationary after all. Applied Economics Letters, 24(8), 510-514.
  • Ozturk, I., & Kalyoncu, H. (2007). Is Per Capita Real GDP Stationary in the OECD Countries? Evidence from a Panel Unit Root Test.
  • Perron, P., & Phillips, P. C. (1987). Does GNP have a unit root?: A re-evaluation. Economics Letters, 23(2), 139-145.
  • Pesaran, M. H. (2004). General diagnostic tests for cross-sectional dependence in panels.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
  • Pesaran, M. H., Smith, L. V., & Yamagata, T. (2013). Panel unit root tests in the presence of a multifactor error structure. Journal of Econometrics, 175(2), 94-115.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross-section independence. The Econometrics Journal, 11(1), 105-127.
  • Phillips, P. C., & Sul, D. (2003). Dynamic panel estimation and homogeneity testing under cross section dependence. The Econometrics Journal, 6(1), 217-259.
  • Rapach, D. E. (2002). Are real GDP levels nonstationary? Evidence from panel data tests. Southern Economic Journal, 473-495.
  • Rodrigues, P. M., & Robert Taylor, A. M. (2012). The flexible fourier form and local generalized least squares de‐trended unit root tests. Oxford Bulletin of Economics and Statistics, 74(5), 736-759.
  • Romer, P. M. (1989). Human capital and growth: Theory and evidence (No. w3173). National Bureau of Economic Research.
  • Rudebusch, G. (1993). The Uncertain Unit Root in Real GNP (pp. 264-272). American Economic Review.
  • Sargan, J. D., & Bhargava, A. (1983). Testing residuals from least squares regression for being generated by the Gaussian random walk. Econometrica: Journal of the Econometric Society, 153-174.
  • Smith, L. V., Leybourne, S., Kim, T. H., & Newbold, P. (2004). More powerful panel data unit root tests with an application to mean reversion in real exchange rates. Journal of Applied Econometrics, 19(2), 147-170.
  • Smyth, R. (2003). Is there a unit root in per capita real GDP? Panel data evidence from Chinese provinces. Asian Profile, 31(4), 289-296.
  • Smyth, R., & Inder, B. (2004). Is Chinese provincial real GDP per capita nonstationary?: Evidence from multiple trend break unit root tests. China Economic Review, 15(1), 1- 24.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.
  • Stock, J. H., & Watson, M. W. (1986). Does GNP have a unit root?. Economics Letters, 22(2-3), 147-151.
  • Strauss, J. (2000). Is there a permanent component in US real GDP. Economics Letters, 66(2), 137-142.
  • Stulz, R. M., & Wasserfallen, W. (1985, January). Macroeconomic time-series, business cycles, and macroeconomic policies. In Carnegie-Rochester Conference Series on Public Policy (Vol. 22, pp. 9-53). North-Holland.
  • Su, C. W., & Chang, H. L. (2011). Is per capita real GDP stationary in Central and Eastern European countries? Evidence from the flexible Fourier test. Eastern European Economics, 54-65.
  • Tiwari, A. K., Chaudhari, A., & Suresh, K. G. (2012). Are Asian per capita GDP stationary? Evidence from first and second-generation panel unit root tests. Transition Studies Review, 19(1), 3-11.
  • TÜLÜMCE, S. Y., & Zeren, F. (2013). Is The Real Per Capita GDP Stationary in the European Union Member States? New Evidence From the Unit Root Test in Nonlinear Heterogeneous Panel. Social Sciences, 8(3), 106-115.
  • Zeren, F., & İşlek, H. 4 Is Per Capita Real GDP Stationary in the D-8 Countries? Evidence from a Panel Unit Root Test.
  • Zhang, N. J. (2007). Peirchyi Lii, Yi-Sung Huang, and Chi-Wei Su,(2007)" IS Per Capita Real GDP Stationary in China¡ H Evidence Based on A Panel SURADF Approach.". Economics Bulletin, 3(31), 1-12.
There are 62 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Makaleler
Authors

Tunahan Hacıimamoğlu 0000-0003-1474-8506

Publication Date November 8, 2021
Submission Date June 5, 2021
Published in Issue Year 2021Volume: 22 Issue: 2

Cite

APA Hacıimamoğlu, T. (2021). Is Per Capita Real GDP Stationary in G-7 Countries? New Evidence from A Fourier Panel Unit Root Test. Cumhuriyet Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 22(2), 123-144. https://doi.org/10.37880/cumuiibf.948351
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