Purchasing Power Parity in East Asia: Why all the Fuss?
AbstractPurchasing Power Parity (PPP) literature is now vast with literally hundreds of papers offering tests for PPP across a broad number of countries. However, despite all the elaborate techniques employed, very little explanation is given as to why PPP is so relevant1 in policy making. This paper provides a basic understanding of PPP and shows why it is considered so important when making policy choices. The discussion is focused on the Asian economies since these have been subject to intense scrutiny following the 1997 crisis, particularly with regard to their choice of exchange rate regime and possible monetary unification.
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Bibliographic InfoPaper provided by University of Adelaide, Centre for International Economic Studies in its series Centre for International Economic Studies Working Papers with number 2003-04.
Length: 14 pages
Date of creation: Mar 2003
Date of revision:
Exchange Rates Regimes; Purchasing Power Parity;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kaminsky, Graciela L & Reinhart, Carmen M, 1998.
"Financial Crises in Asia and Latin America: Then and Now,"
American Economic Review,
American Economic Association, vol. 88(2), pages 444-48, May.
- Reinhart, Carmen & Kaminsky, Graciela, 1998. "Financial crises in Asia and Latin America: Then and now," MPRA Paper 13877, University Library of Munich, Germany.
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