Test on Purchasing Power Parity Hypothesis in China: An Empirical Study

被引：0

作者：

Zhu Huiming ^{[1
]}

Hao Liya ^{[1
]}

机构：

[1] Hunan Univ, Coll Business Adm, Changsha 410082, Hunan, Peoples R China

来源：

PROCEEDINGS OF THE 15TH INTERNATIONAL CONFERENCE ON INDUSTRIAL ENGINEERING AND ENGINEERING MANAGEMENT, VOLS A-C | 2008年

关键词：

Purchasing Power Parity; Exchange Rate; Real Exchange Rate; Testing; Inflation Rate;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Purchasing power parity (PPP) is an important economic technique used to measure the relative values of two currencies. In this paper we use econometric methods such as Augmented Dickey Fuller unit root tests and Engle-Granger cointegration tests to explore the Chinese PPP hypothesis relative to U. S. during the period from January 1994 to December 2006. The results show that, due to China's evolution of exchange control system in the context of the overall reform, we couldn't get strong support of PPP hypothesis, i.e., PPP is just one of the factors reflecting the exchange level in China and we couldn't determine the nominal exchange rate depending on it alone. This is consistent with the Chinese economy.

引用

页码：2356 / 2359

页数：4