Persistence of the Misery Index in African Countries.
This paper deals with the analysis of the misery index in a group of 55 African countries by using fractional integration. In doing so, we can measure the degree of persistence of the index in a more flexible way than with other methods that simply use integer degrees of differentiation (zero or one...
| Autores: | , , |
|---|---|
| Tipo de recurso: | artículo |
| Fecha de publicación: | 2019 |
| País: | España |
| Institución: | Universidad Francisco de Vitoria |
| Repositorio: | DDFV. Repositorio Institucional de la Universidad Francisco de Vitoria |
| Idioma: | inglés |
| OAI Identifier: | oai:ddfv.ufv.es:10641/1838 |
| Acceso en línea: | http://hdl.handle.net/10641/1838 |
| Access Level: | acceso abierto |
| Sumario: | This paper deals with the analysis of the misery index in a group of 55 African countries by using fractional integration. In doing so, we can measure the degree of persistence of the index in a more flexible way than with other methods that simply use integer degrees of differentiation (zero or one). Our results indicate a large degree of heterogeneity across the countries, with some showing short memory behaviour (d = 0); others long memory mean reverting behaviour (0 < d < 1) and others indicating the presence of unit roots (d = 1). Thus, shocks will have different effects depending on the country examined. We also find a positive relationship between the levels of persistence and income. |
|---|