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Growth of developing countries and world interest rates

โœ Scribed by Philippe Callier


Book ID
113247463
Publisher
Elsevier Science
Year
1984
Tongue
English
Weight
397 KB
Volume
6
Category
Article
ISSN
0164-0704

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## Abstract As the real exchange rate of developing countries is especially vulnerable to stochastic events, standard unit root tests do not capture such events adequately. Using a Markov switching extension of the ADF test, which incorporates stochastic regime switching, we address the issue of re