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The Purchasing Power Parity and the Russian Ruble

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  • Mohsen Bahmani-Oskooee
  • Michael Barry

Abstract

Since break up of the Soviet Union and formation of the Commonwealth of Independent States, new set of data on the exchange rate and the price level are generated by market forces for Russia. The market based new data set coupled with new advances in econometric literature motivated us to test the Purchasing Power Parity theory between Russian ruble and the United States dollar using cointegration analysis. The empirical results supported the PPP.

Suggested Citation

  • Mohsen Bahmani-Oskooee & Michael Barry, 1997. "The Purchasing Power Parity and the Russian Ruble," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 39(1), pages 82-94, April.
    • Handle: RePEc:pal:compes:v:39:y:1997:i:1:p:82-94
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    Cited by:

    1. Mohsen Bahmani-Oskooee & Ali Kutan & Su Zhou, 2009. "Towards solving the PPP puzzle: evidence from 113 countries," Applied Economics, Taylor & Francis Journals, vol. 41(24), pages 3057-3066.
    2. Bahmani-Oskooee, Mohsen & Tankui, Altin, 2008. "The black market exchange rate vs. the official rate in testing PPP: Which rate fosters the adjustment process?," Economics Letters, Elsevier, vol. 99(1), pages 40-43, April.
    3. M.Abimbola OYINLOLA & Luwatosin ADENIYI & Nd Festus O.EGWAIKHIDE*, 2011. "Purchasing Power Parity Hypothesis in the Selected African Countries," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 21, pages 93-110.
    4. Mohsen Bahmani‐Oskooee & Scott W. Hegerty, 2009. "Purchasing Power Parity In Less‐Developed And Transition Economies: A Review Paper," Journal of Economic Surveys, Wiley Blackwell, vol. 23(4), pages 617-658, September.
    5. Dominick Stephens, 2004. "The equilibrium exchange rate according to PPP and UIP," Reserve Bank of New Zealand Discussion Paper Series DP 2004/03, Reserve Bank of New Zealand.

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