In this study, we use a more powerful nonlinear (logistic) unit root test advanced by Leybourne et al. (1998) to investigate the time-series properties of real gross domestic product for 25 Chinese provinces for the period 1952 to 1998. We strongly reject the null of unit root process for over half the provinces. These empirical results have important policy implications for China.
机构:
Univ Texas El Paso, Coll Business Adm, Paul L Foster & Alejandra de la Vega Foster Disti, El Paso, TX 79968 USAUniv Texas El Paso, Coll Business Adm, Paul L Foster & Alejandra de la Vega Foster Disti, El Paso, TX 79968 USA
Payne, James E.
Lee, Junsoo
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Univ Alabama, Dept Econ Finance & Legal Studies, Box 870224, Tuscaloosa, AL 35487 USAUniv Texas El Paso, Coll Business Adm, Paul L Foster & Alejandra de la Vega Foster Disti, El Paso, TX 79968 USA
Lee, Junsoo
Islam, Md Towhidul
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Discover Financial Serv, 2500 Lake Cook Rd, Riverwoods, IL 60089 USAUniv Texas El Paso, Coll Business Adm, Paul L Foster & Alejandra de la Vega Foster Disti, El Paso, TX 79968 USA
机构:
Xiamen Univ, Dept Finance, Xiamen, Peoples R China
Tamkang Univ, Dept Int Business, Taipei, TaiwanXiamen Univ, Dept Finance, Xiamen, Peoples R China
Su, Chi-Wei
Chang, Hsu-Ling
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Xiamen Univ, Dept Finance, Xiamen, Peoples R ChinaXiamen Univ, Dept Finance, Xiamen, Peoples R China