Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community
This paper uses nonlinear unit root testing procedures to examine the issue of inflation convergence for the Central African Economic and Monetary Community (CEMAC) member states including Cameron, Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of Congo. The results from n...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
EconJournals
2014-03-01
|
| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/31961/351973?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| _version_ | 1828031951998550016 |
|---|---|
| author | Emmanuel Anoruo Vasudeva N.R. Murthy |
| author_facet | Emmanuel Anoruo Vasudeva N.R. Murthy |
| author_sort | Emmanuel Anoruo |
| collection | DOAJ |
| description | This paper uses nonlinear unit root testing procedures to examine the issue of inflation convergence for the Central African Economic and Monetary Community (CEMAC) member states including Cameron, Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of Congo. The results from nonlinear STAR unit root tests suggest that inflation differentials for the sample countries are nonlinear and mean reverting processes. These results provide evidence of inflation convergence among countries within CEMAC. The finding of inflation convergence indicates the feasibility of a common monetary policy and/or inflation targeting regime within CEMAC. |
| first_indexed | 2024-04-10T14:56:53Z |
| format | Article |
| id | doaj.art-b8070b1a31da4b7597ef3c9080954b14 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T14:56:53Z |
| publishDate | 2014-03-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-b8070b1a31da4b7597ef3c9080954b142023-02-15T16:07:19ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382014-03-0141171032Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary CommunityEmmanuel AnoruoVasudeva N.R. MurthyThis paper uses nonlinear unit root testing procedures to examine the issue of inflation convergence for the Central African Economic and Monetary Community (CEMAC) member states including Cameron, Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of Congo. The results from nonlinear STAR unit root tests suggest that inflation differentials for the sample countries are nonlinear and mean reverting processes. These results provide evidence of inflation convergence among countries within CEMAC. The finding of inflation convergence indicates the feasibility of a common monetary policy and/or inflation targeting regime within CEMAC.https://dergipark.org.tr/tr/pub/ijefi/issue/31961/351973?publisher=http-www-cag-edu-tr-ilhan-ozturkinflation convergence star nonlinear unit root tests inflation differential cemac |
| spellingShingle | Emmanuel Anoruo Vasudeva N.R. Murthy Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community International Journal of Economics and Financial Issues inflation convergence star nonlinear unit root tests inflation differential cemac |
| title | Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community |
| title_full | Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community |
| title_fullStr | Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community |
| title_full_unstemmed | Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community |
| title_short | Testing Nonlinear Inflation Convergence for the Central African Economic and Monetary Community |
| title_sort | testing nonlinear inflation convergence for the central african economic and monetary community |
| topic | inflation convergence star nonlinear unit root tests inflation differential cemac |
| url | https://dergipark.org.tr/tr/pub/ijefi/issue/31961/351973?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| work_keys_str_mv | AT emmanuelanoruo testingnonlinearinflationconvergenceforthecentralafricaneconomicandmonetarycommunity AT vasudevanrmurthy testingnonlinearinflationconvergenceforthecentralafricaneconomicandmonetarycommunity |