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La PPA est-elle verifiee pour les pays developpes et en developpement ? Un re-examen par l'econometrie des panels non-stationnaires

Listed author(s):
  • Imed Drine
  • Christophe Rault

L'objet de cet article est d'utiliser les developpements recents de l'econometrie des panels dynamiques non stationnaires afin d'examiner la robustesse du concept de PPA pour un echantillon de 73 pays developpes et en developpement. Nos investigations revelent que la forme forte de la PPA est verifiee pour un ensemble de pays de l'OCDE et le groupe MENA. En revanche, pour l'Afrique, l'Asie, l'Amerique latine et les PECO, les deux formes, faible et forte de la PPA, ne semblent pas pertinentes pour caracteriser le comportement de long terme du taux de change reel. Un elargissement de notre champ d'analyse montre d'une part, que la nature du regime de change ne conditionne pas la validite de la PPA et d'autre part, que la PPA est plus facilement acceptee dans les pays a inflation elevee que dans les pays a inflation faible.

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Article provided by CEPII research center in its journal Economie Internationale.

Volume (Year): (2004)
Issue (Month): 97 ()
Pages: 49-80

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Handle: RePEc:cii:cepiei:2004-1tb
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