Testing long-run validity of purchasing power parity for Asian countries
This study presents an empirical analysis of purchasing power parity for five developing Asian countries, namely India, Indonesia, Pakistan, Philippines and Turkey. This is done by using cointegration technique. Time series properties of nominal exchange rate and price series show that they are nonstationary. The exchange rate and relative price series do not appear to be cointegrated for most of the countries. We reject the validity of purchasing power parity for India, Indonesia, Pakistan, Philippines, but we can accept it for Turkey.
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Volume (Year): 6 (1999)
Issue (Month): 3 ()
Pages: 147-151
| Handle: | RePEc:taf:apeclt:v:6:y:1999:i:3:p:147-151 |
| Contact details of provider: | Web page: http://www.tandfonline.com/RAEL20
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