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root test |
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root test [′rüt ‚test] (mathematics) An infinite series of nonnegative termsanconverges if, after some term, theith root ofaiis less than a fixed number smaller than 1. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| In this context, the Philips-Peron (PP) unit root test is applied as it not only controls for higher serial correlation in the series but assumptions made on the distribution of errors are milder. The study is conducted using a newly developed nonlinear IV unit root test for a panel of 41 developing countries. Note that based on the 58 equations, only a limited number of countries' corruption, growth and investment series, respectively, would have passed the unit root test at the 5% level of significance. |
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