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Revisiting Purchasing Power Parity for Central Asian Countries Using Threshold Cointegration Tests

Author

Listed:
  • Venus khim-sen Liew

    () (Universiti Malaysia Sarawak)

  • Chin-hong Puah

    () (Universiti Malaysia Sarawak)

  • Chee-keong Choong

    () (Universiti Tunku Abdul Rahman (Perak Campus))

  • Evan Lau

    () (Universiti Malaysia Sarawak)

Abstract

This study finds evidence supportive of the Purchasing Power Parity for Azerbaijan and Kazakhstan using threshold cointegration tests. This finding suggests the existence of an asymmetry relationship between exchange rate and relative prices. The asymmetric relationship may be due to the heavily regulated price and exchange rate systems in these transition economies for the benefits of trade competiveness.

Suggested Citation

  • Venus khim-sen Liew & Chin-hong Puah & Chee-keong Choong & Evan Lau, 2010. "Revisiting Purchasing Power Parity for Central Asian Countries Using Threshold Cointegration Tests," Economics Bulletin, AccessEcon, vol. 30(2), pages 1283-1292.
  • Handle: RePEc:ebl:ecbull:eb-10-00111
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    File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I2-P120.pdf
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    More about this item

    Keywords

    Purchasing Power Parity; Asymmetry; Threshold Cointegration; Transition Economies; Central Asia;

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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