TESTING NONLINEAR INFLATION CONVERGENCE FOR THE CENTRAL AFRICAN ECONOMIC AND MONETARY COMMUNITY

TESTING NONLINEAR INFLATION CONVERGENCE FOR THE CENTRAL AFRICAN ECONOMIC AND MONETARY COMMUNITY

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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...

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Main Authors: Emmanuel Anoruo, Vasudeva N.R. Murthy
Format: Article
Language:English
Published: EconJournals 2014-01-01
Series:International Journal of Economics and Financial Issues
Online Access:http://www.econjournals.com/index.php/ijefi/article/view/618/pdf
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spelling doaj-41c51abb295645fbbc19178adb07cc4d2020-11-25T01:41:23ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382146-41382014-01-014117TESTING 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.http://www.econjournals.com/index.php/ijefi/article/view/618/pdf
collection DOAJ
language English
format Article
sources DOAJ
author Emmanuel Anoruo
Vasudeva N.R. Murthy
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
author_facet Emmanuel Anoruo
Vasudeva N.R. Murthy
author_sort Emmanuel Anoruo
title 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_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_sort testing nonlinear inflation convergence for the central african economic and monetary community
publisher EconJournals
series International Journal of Economics and Financial Issues
issn 2146-4138
2146-4138
publishDate 2014-01-01
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.
url http://www.econjournals.com/index.php/ijefi/article/view/618/pdf
work_keys_str_mv AT emmanuelanoruo testingnonlinearinflationconvergenceforthecentralafricaneconomicandmonetarycommunity
AT vasudevanrmurthy testingnonlinearinflationconvergenceforthecentralafricaneconomicandmonetarycommunity
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