TY - JOUR
T1 - Does the long-run PPP hypothesis hold for Africa? Evidence from a panel cointegration study
AU - Nagayasu, Jun
N1 - Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2002
Y1 - 2002
N2 - 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.
AB - 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.
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U2 - 10.1111/1467-8586.00146
DO - 10.1111/1467-8586.00146
M3 - Article
AN - SCOPUS:0036207207
VL - 54
SP - 181
EP - 187
JO - Bulletin of Economic Research
JF - Bulletin of Economic Research
SN - 0307-3378
IS - 2
ER -