Is Per Capita Real GDP Stationary in Latin American Countries? Evidence from a Panel Stationary Test with Structural Breaks

Abstract

In this note, we use the newly-developed and refined panel stationary test with structural breaks, as advanced by Carrion-i-Silvestre et al. (2005), to investigate the time-series properties of per capita real GDP for 20 Latin American countries during the 1960-2000 period. The empirical results from numerous earlier panel-based unit root tests which do not take structural breaks into account indicate that the per capita real GDP for all the countries we study here are non-stationary; but when we employ Carrion-i-Silvestre et al.¡¦s (2005) panel stationary test with structural breaks, we find the null hypothesis of stationarity in per capita real GDP can not be rejected for any of the 20 countries. We thank Dr. Conley (the Associate Editor), his time and effort to read our paper and give us the comment. This comment makes our paper nore valuable and readable.

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