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Applied Economics Letters Volume 11, 2004 - Issue 3
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Original Articles

PPP tests in cointegrated panels: evidence from Asian developing countries

Syed Abul Basher Department of Economics, York University, Toronto, ON M3J 1P3, Canada
&
Mohammed Mohsin Department of Economics, University of Tennessee, Knoxville, TN 37996, USA
Pages 163-166 | Published online: 23 Aug 2006
 
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Abstract

This study tests the relative version of purchasing power parity (PPP) for a set of ten Asian developing countries using a panel cointegration framework. A ‘between-dimension’ dynamic OLS estimator as proposed by Pedroni is employed. The test results overwhelmingly reject the PPP hypothesis.

Acknowledgements

We would like to thank Don Bruce, Keya Maitra and Peter Predoni for suggestions and encouragements. The errors are of course our own.

Notes

1 The detailed expression of the t-statistic is available in Pedroni (Citation2000).

2 Similar results on quarterly data will be made available upon request.

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