Long-run validity of purchasing power parity and rank tests for cointegration for Central Asian countries

• Main Authors: Liew, Venus Khim-Sen, Chia, Ricky Chee-Jiun, Ling, Tai-Hu
• 格式: E-Article
• 语言: English
• 出版: Routledge 2010
• 主题: H Social Sciences (General)
• 在线阅读: http://ir.unimas.my/id/eprint/17991/7/Long-run%20validity%20of%20purchasing%20power%20parity%20%28abstract%29.pdf; http://ir.unimas.my/id/eprint/17991/; http://www.tandfonline.com/doi/full/10.1080/00036840902762704

This study finds that Purchasing Power Parity (PPP) holds in the long-run for Azerbaijan, Kazakhstan and Kyrgyzstan, based on Breitung’s (2001) rank tests for cointegration. Results from further analysis indicates that nominal exchange rates and relative prices are nonlinearly interrelated. Trad...