Purchasing power parity in Asian economies: Further evidence from rank tests for cointegration

V., K S Liew and Lee, Hock Ann and Lim , Kian Ping (2009) Purchasing power parity in Asian economies: Further evidence from rank tests for cointegration. Applied Economics Letters , 16 (1). pp. 51-54. ISSN 1350-4851

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Official URL: http://dx.doi.org/10.1080/13504850601032057

Abstract

The finding of nonlinear cointegration between Asian exchange rates with the corresponding relative prices and aggregate price levels based on Breitung's (2001) nonparametric rank tests reinforces previous validations of purchasing power parity (PPP) by the parametric testing procedures. Hence, the long-run Asian exchange rates are in equilibrium with the relevant fundamentals as suggested by the PPP hypothesis.

Item Type:Article
Uncontrolled Keywords:Cointegration analysis, Exchange rate, Hypothesis testing, Price dynamics, Purchasing power parity
Subjects:?? HB801-843 ??
Divisions:SCHOOL > Labuan School of International Business and Finance
ID Code:358
Deposited By:IR Admin
Deposited On:23 Mar 2011 09:52
Last Modified:23 Feb 2015 11:57

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