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Purchasing power parity for ASEAN-8 countries: panel SURKSS tests

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  • Tsangyao Chang
  • YiChun Zhang
  • Wen-Chi Liu

Abstract

This study applies panel SURKSS tests, proposed by Wu and Lee (2009), to investigate the properties of long-run Purchasing Power Parity (PPP) in a sample of ASEAN (Association of Southeast Asian Nations)-8 countries over the period January 1999 to June 2008. The empirical results from several panel-based unit root tests indicate that PPP does not hold for the ASEAN-8 countries under study; however, panel SURKSS tests indicate that PPP is valid for two (four) of these ASEAN-8 countries when the US dollar (the Japanese yen) is used as a base country. These results have important policy implications for these ASEAN-8 countries under study.

Suggested Citation

  • Tsangyao Chang & YiChun Zhang & Wen-Chi Liu, 2010. "Purchasing power parity for ASEAN-8 countries: panel SURKSS tests," Applied Economics Letters, Taylor & Francis Journals, vol. 17(15), pages 1517-1523.
    • Handle: RePEc:taf:apeclt:v:17:y:2010:i:15:p:1517-1523
    DOI: 10.1080/13504850903018721
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    Cited by:

    1. Boršič Darja & Bekő Jani, 2018. "Purchasing power parity in ASEAN+3: an application of panel unit root tests," Croatian Review of Economic, Business and Social Statistics, Sciendo, vol. 4(1), pages 42-52, June.
    2. E. N. Gyamfi & E. F. Appiah, 2019. "Further evidence on the validity of purchasing power parity in selected African countries," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 43(2), pages 330-343, April.
    3. Bekő Jani & Boršič Darja, 2018. "Testing the Purchasing Power Parity Hypothesis: Case of ASEAN Economies," Naše gospodarstvo/Our economy, Sciendo, vol. 64(4), pages 74-85, December.

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