Are interest rates unit root in Ghana? An Empirical Assessment

ASUAMAH YEBOAH, SAMUEL (2017): Are interest rates unit root in Ghana? An Empirical Assessment.

Abstract

The paper examines the hypothesis of unit roots in interest rates [Proxied by Treasury bill-T-bill- rates (91-day T-bill rate, 182-day T-bill rate, and 1-year T-bill rate] for Ghana for the period 2007 to 2013, using monthly data. The test was performed by employing the Augmented Dickey-Fuller (ADF) test and the Kwiatkwski, Phillips, Schmidt and shin (KPSS). The results of the tests indicate T-bill rates have unit root in levels supporting the unit root hypothesis for Ghana.

• Item Type: MPRA Paper
• Language: English
• Keywords: Treasury bill rate; Interest rate, Unit Root
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E43 - Interest Rates: Determination, Term Structure, and Effects; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy; G - Financial Economics > G1 - General Financial Markets > G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates

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