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Testing long-run validity of purchasing power parity for Asian countries

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  • Murat Doganlar

Abstract

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.

Suggested Citation

  • Murat Doganlar, 1999. "Testing long-run validity of purchasing power parity for Asian countries," Applied Economics Letters, Taylor & Francis Journals, vol. 6(3), pages 147-151.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:3:p:147-151
    DOI: 10.1080/135048599353519
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    Cited by:

    1. Alper ASLAN, 2010. "The validity of PPP: evidence from Lagrange multiplier unit root tests for ASEAN countries," Economics Bulletin, AccessEcon, vol. 30(2), pages 1433-1443.
    2. Luis A. Gil-Alana & Jiang Liang, 2011. "The PPP hypothesis in the US/China relationship. Fractional integration, time variation and data frequency," Faculty Working Papers 13/11, School of Economics and Business Administration, University of Navarra.
    3. Yihui Lan, 2001. "The Explosion of Purchasing Power Parity," Economics Discussion / Working Papers 01-22, The University of Western Australia, Department of Economics.
    4. Kalyoncu, Huseyin & Kalyoncu, Kahraman, 2008. "Purchasing power parity in OECD countries: Evidence from panel unit root," Economic Modelling, Elsevier, vol. 25(3), pages 440-445, May.
    5. Mariam Camarero & Juan Carlos Cuestas & Javier Ordonez, 2008. "Nonlinear trend stationarity of real exchange rates: the case of the Mediterranean countries," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 1(1), pages 30-46.
    6. repec:eee:reveco:v:49:y:2017:i:c:p:211-222 is not listed on IDEAS

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