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An empirical investigation of purchasing power parity for a transition economy - Cambodia

  • Venus Khim-Sen Liew

    ()

    (Faculty of Economics and Business, Universiti Malaysia Sarawak)

  • Tuck Cheong Tang

    ()

    (Department of Economics, School of Business, Monash University Sunway campus)

This study has found an empirical support of Purchasing Power Parity (PPP) theory for an East Asia transition economy – Cambodia. It is based on the results of cointegration among KHR/USD, Cambodia CPI, and world CPI over the monthly period May 2001-February 2009. This finding is useful for policy implications i.e. de-dollarization (and exchange rates) policy designs in Cambodia.

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File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I2-P96.pdf
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Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 30 (2010)
Issue (Month): 2 ()
Pages: 1025-1031

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Handle: RePEc:ebl:ecbull:eb-09-00567
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  1. Taylor, Alan M. & Taylor, Mark P, 2004. "The Purchasing Power Parity Debate," CEPR Discussion Papers 4495, C.E.P.R. Discussion Papers.
  2. Kiwon Kang, 2005. "Is Dollarization Good for Cambodia?," Global Economic Review, Taylor & Francis Journals, vol. 34(2), pages 201-211.
  3. Jean-François Hoarau, 2008. "Testing PPP for Central American real exchange rates. Evidence from new panel data stationary tests with structural breaks," Economics Bulletin, AccessEcon, vol. 6(21), pages 1-5.
  4. Hatemi-J, Abdulnasser, 1999. "Fiscal Policy in Sweden: Effects of EMU Criteria Convergence," Working Papers 1999:5, Lund University, Department of Economics, revised Nov 1999.
  5. Kwiatkowski, D. & Phillips, P.C.B. & Schmidt, P., 1990. "Testing the Null Hypothesis of Stationarity Against the Alternative of Unit Root : How Sure are we that Economic Time Series have a Unit Root?," Papers 8905, Michigan State - Econometrics and Economic Theory.
  6. repec:ebl:ecbull:v:6:y:2008:i:21:p:1-5 is not listed on IDEAS
  7. Sazanami, Yoko & Yoshimura, Seiji, 1999. "Restructuring East Asian exchange rate regimes," Journal of Asian Economics, Elsevier, vol. 10(4), pages 509-523.
  8. Chinn, Menzie David & Dooley, Michael P., 1999. "International monetary arrangements in the Asia-Pacific before and after," Journal of Asian Economics, Elsevier, vol. 10(3), pages 361-384.
  9. Mark Taylor, 2006. "Real exchange rates and Purchasing Power Parity: mean-reversion in economic thought," Applied Financial Economics, Taylor & Francis Journals, vol. 16(1-2), pages 1-17.
  10. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
  11. Jason Furman & Joseph E. Stiglitz, 1998. "Economic Crises: Evidence and Insights from East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 1-136.
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