We use the newly-developed and refined panel stationary test with structural breaks, as advanced
by Carrion-i-Silvestre et al. (2005), to investigate the time-series properties of per capita real
GDP for 14 Asia countries during the 1960 to 2000 period. The empirical results from numerous
earlier panel-based unit root tests which do not take structural breaks into account indicate
that the per capita real GDP for all the countries we study here are non-stationary; but when
we employ Carrion-i-Silvestre et al.’s (2005) panel stationary test with structural breaks, we
find the null hypothesis of stationarity in per capita real GDP cannot be rejected for any of the
14 countries. From these results, one particularly important policy implication for Asia countries
emerges.
