In this study, we investigate the time series properties of the inflation rate in all countries in Africa. In order to gauge whether the inflation rate is nonstationary or stationary, we employ: (i) two linear unit root tests based on different null hypotheses and (ii) nonlinear ESTAR-type unit...

This paper provides new evidence on the long-run relationship between trade and budget deficits in ten African countries over the quarterly period 1973:2 - 2005:4. Cointegration analyses are based on four approaches: Harris-Inder (1994), Shin (1994), Geweke and Porter-Hudak (1983) and Sowell...