Long-run purchasing power parity with asymmetric adjustment: further evidence from African countries

被引：20

作者：

Chang, Tsangyao ^{[1
]}

Lu, Yang-Cheng ^{[2
]}

Tang, D. P. ^{[3
]}

Liu, Wen-Chi ^{[3
]}

机构：

[1] Feng Chia Univ, Dept Finance, Taichung 40724, Taiwan

[2] Ming Chung Univ, Dept Finance, Taipei, Taiwan

[3] Natl Taiwan Univ, Grad Inst Natl Dev, Taipei 10764, Taiwan

来源：

APPLIED ECONOMICS | 2011年 / 43卷 / 02期

关键词：

REAL EXCHANGE-RATES; THRESHOLD COINTEGRATION; AUTOREGRESSIVE MODEL; NONLINEAR ADJUSTMENT; RATE BEHAVIOR; CENTURIES; INTERVENTION; ECONOMICS;

D O I：

10.1080/00036840802467073

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study applies threshold cointegration test advanced by Enders and Siklos (2001) to investigate the properties of asymmetric adjustment in long-run Purchasing Power Parity (PPP) in 22 selected African countries during the period of January 1980 to December 2003. Although there is evidence of long-run PPP for most African countries, the adjustment mechanism is asymmetric. These results have particularly important policy implications for African countries.

引用

页码：231 / 242

页数：12

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