Does PPP hold in African Countries? Further Evidence based on a Highly-Dynamic Nonlinear (Logistic) Unit Root Test
學年 94
學期 1
出版（發表）日期 2006-01-01
作品名稱 Does PPP hold in African Countries? Further Evidence based on a Highly-Dynamic Nonlinear (Logistic) Unit Root Test
作品名稱（其他語言）
著者 Chang, Tsang-yao; Chang, Hsu-ling; Chu, Hsiao-ping; Su, Chi-wei
單位 淡江大學國際企業學系
出版者 Abingdon: Routledge
著錄名稱、卷期、頁數 Applied Economics 38(20), pp.2453-2459
摘要 With a view to investigating whether the purchasing power parity (PPP) theory holds true for selected African countries during the January 1980–December 2003 period, we employ a rigorous, highly dynamic non-linear (logistic) unit root test, as first advanced by Leybourne et al. (1998), which is considerably more powerful than those tests traditionally used. Compared with the rejection of the null of the unit root process for only one of the 22 countries under study when we use the traditional ADF, PP, KPSS, NP and the DF-GLS unit root tests, with the Leybourne et al. (1998) test, we strongly reject the null of the unit root process for a surprising six of the 22 countries. These empirical results clearly indicate that PPP holds true for these six countries, namely the Central African Republic, the Côte d’Ivoire, Kenya, Madagascar, Uganda and Lesotho.
關鍵字
語言 en
ISSN 0003-6846 1466-4283
期刊性質 國外
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產學合作
通訊作者
審稿制度
國別 GBR
公開徵稿
出版型式 電子版
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