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Revisiting purchasing power parity for East Asian countries: panel SURADF tests

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  • Tsangyao Chang
  • Chia-Hao Lee

Abstract

In this study, the panel Seemingly Unrelated Regression Augmented Dickey-Fuller (SURADF) tests advanced by Breuer et al. (2001) are used to test the validity of Purchasing Power Parity (PPP) for a sample of East Asian countries over the 1985M3 to 2008M5. The empirical results from several panel-based unit root tests indicate that PPP does not hold for East Asian countries under study; however, Breuer et al.'s (2001) panel SURADF tests indicate that PPP is valid for most of the East Asian countries under study.

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  • Tsangyao Chang & Chia-Hao Lee, 2010. "Revisiting purchasing power parity for East Asian countries: panel SURADF tests," Applied Economics Letters, Taylor & Francis Journals, vol. 17(13), pages 1329-1334.
  • Handle: RePEc:taf:apeclt:v:17:y:2010:i:13:p:1329-1334
    DOI: 10.1080/13504850902958356
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    Cited by:

    1. Bahmani-Oskooee Mohsen & Nasir ABM, 2015. "Purchasing Power Parity and the Law of One Price: Evidence from Commodity Prices in Asian Countries," Global Economy Journal, De Gruyter, vol. 15(2), pages 231-240, July.

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