Real Exchange Rates and Real Interest Differentials: The Case of a Transitional Economy - Cambodia
This study examines the existence of long-run equilibrium relationship between the Cambodiaâ€™s real exchange rates and real interest differentials. The results of cointegration tests (i.e. Engle-Granger tests, and Johansenâ€™s multivariate tests without and with structural breaks) show that these variables are cointegrated over the sample period of November 1994 - August 2009. This empirical finding illustrates the fundamental understanding of the role of real interest differential in determining real exchange rates in Cambodia, and it is useful for policy considerations.
|Date of creation:||May 2010|
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- 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.
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