Does the Long-Run PPP Hypothesis Hold for Africa? Evidence from a Panel Cointegration Study
| Author | : Jun Nagayasu |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2004 |
| ISBN-10 | : OCLC:1375583558 |
| ISBN-13 | : |
| Rating | : 4/5 ( Downloads) |
Book Synopsis Does the Long-Run PPP Hypothesis Hold for Africa? Evidence from a Panel Cointegration Study by : Jun Nagayasu
Download or read book Does the Long-Run PPP Hypothesis Hold for Africa? Evidence from a Panel Cointegration Study written by Jun Nagayasu and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-run purchasing power parity (PPP) concept is empirically studied using the parallel market exchange rates of 17 African countries and employing the panel cointegration method. This approach is particularly useful when analysing African countries, which do not have long time-series. This paper presents results that support the weak-form of the long-run PPP hypothesis in Africa, which does not require a homogeneity restriction on prices.