168
Views
17
CrossRef citations to date
0
Altmetric
Original Articles

Food prices and long-run purchasing power parity in Africa

Pages 321-336 | Published online: 01 Jul 2010

  • AGGARWAL , R and SIMMONS , W . 2002 . Purchasing power parity and economic integration among Caribbean countries: evidence from the 1980s and 1990s Available online at http://www.journalofpolicymodels.com/articles/CaribFXPPP.doc
  • ARDENI , PG . 1989 . Does the law of one price really hold for commodity prices? . American Journal of Agricultural Economics , 71 : 661 – 9 .
  • BALASSA , B . 1964 . The purchasing power parity doctrine: a reappraisal . Journal of Political Economy , 72 ( 6 ) : 584 – 96 .
  • BARNETT , RC , BESSLER , DA and THOMPSON , RL . 1983 . The money supply and nominal agricultural prices . American Journal of Agricultural Economics , 65 : 303 – 7 .
  • BURFISHER , M and MISSIAEN , M . 1987 . Intraregional trade in West Africa , Washington, DC : United States Department of Agriculture/Economic Research Service .
  • CASSELL , G . 1916 . The present situation of the foreign exchanges . Economic Journal , 26 : 62 – 5 .
  • CASSELL , G . 1921 . The world's monetary problems , London : Constable .
  • CHAMBERS , RG and JUST , RE . 1982 . An investigation of the effect of monetary factors on agriculture . Journal of Monetary Economics , 9 : 235 – 47 .
  • CHEUNG , YW and LAI , KS . 1993 . Long-run purchasing power parity during the recent float . Journal of International Economics , 34 : 181 – 92 .
  • CNN.com . 23 October 2000 . Police quell new food-price riots in Zimbabwe city 23 October , Harare, , Zimbabwe
  • DAVIDSON , R and MACKINNON , JG . 1993 . Estimation and inference in econometrics , New York : Oxford University Press .
  • DAVUTYAN , N and PIPPENGER , J . 1985 . Purchasing power parity did not collapse during the 1970s . American Economic Review , December : 1151 – 8 .
  • DORNBUSCH , R . 1988 . Exchange rates and inflation , Cambridge, MA : MIT Press .
  • ENGLE , RF and GRANGER , CWJ . 1987 . Co-integration and error correction: representation, estimation and testing . Econometrica , 55 ( 2 ) : 251 – 76 .
  • FLEISSIG , AR and STRAUSS , J . 2000 . Panel unit root tests of purchasing power parity for price indices . Journal of International Money and Finance , 19 : 489 – 506 .
  • FRASER , P , TAYLOR , MP and WEBSTER , A . 1991 . An empirical examination of long-run purchasing power parity as theory of international commodity arbitrage . Applied Economics , 23 : 1749 – 59 .
  • FRENKEL , JA . 1981 . The collapse of purchasing power parities during the 1970s . European Economic Review , 16 : 145 – 65 .
  • GHAI , D and SMITH , L . 1987 . “ Food price policy and equity ” . In Accelerating food production in sub-Saharan Africa , Edited by: Mellor , JW , Delgado , CL and Blackie , MJ . Baltimore, MD : Johns Hopkins University Press .
  • GRANGER , CWJ . 1986 . Development in the study of cointegrated economic variables . Oxford Bulletin of Economics and Statistics , 48 ( 3 ) : 213 – 28 .
  • HADJIMICHAEL , MT and GALY , M . November 1997 . The CFA franc zone and the EMU , Working Paper No. WP/97/156 November , Washington, DC : African Department . International Monetary Fund
  • HAKKIO , GS . 1986 . Does the exchange rate follow a random walk? A Monte Carlo study of four tests for a random walk . Journal of International Money and Finance , 5 : 221 – 9 .
  • HOLMES , MJ . 2000 . Does purchasing power parity hold in African less developed countries? Evidence from a panel data unit root test . Journal of African Economies , 9 ( 1 ) : 63 – 73 .
  • INTERNATIONAL LABOUR ORGANISATION (ILO) . 1968 . Yearbook of labour statistics , Geneva : ILO .
  • INTERNATIONAL LABOUR ORGANISATION (ILO) . 1975 . Yearbook of labour statistics , Geneva : ILO .
  • INTERNATIONAL LABOUR ORGANIS ATION (ILO) . 1984 . Yearbook of labour statistics , Geneva : ILO .
  • INTERNATIONAL LABOUR ORGANIS ATION (ILO) . 1992 . Yearbook of labour statistics , Geneva : ILO .
  • INTERNATIONAL LABOUR ORGANIS ATION (ILO) . 1999 . Yearbook of labour statistics , Geneva : ILO .
  • INTERNATIONAL MONETARY FUND (IMF) . 1986 . International financial statistics yearbook , Washington, DC : IMF .
  • INTERNATIONAL MONETARY FUND (IMF) . 2000 . International financial statistics yearbook , Washington, DC : IMF .
  • JARQUE , CM and BERA , AK . 1980 . Efficient test for normality, homoscedasticity and serial independence of regression residuals . Economic Letters , 6 : 255 – 9 .
  • JOHANSEN , S . 1991 . Estimation and hypothesis testing of cointegration vectors in gaussian vector autoregressive models . Econometrica , 59 : 1551 – 80 .
  • JOHANSEN , S . 2000 . Modelling of cointegration in the vector autoregressive model . Economic Modelling , 17 : 359 – 73 .
  • JOHANSEN , S and JUSELIUS , K . 1992 . Structural hypothesis in a multivariate cointegration analysis of the PPP and UIP for UK . Journal of Econometrics , 63 : 7 – 36 .
  • JOHNSON , OEG . 1994 . Managing adjustment costs, political authority, and the implementation of adjustment programs, with special reference to African Countries . World Development , 22 ( 3 ) : 399 – 411 .
  • KARGBO , JM . Analysis of food availability and food policies in the Mono River Union: implications for political stability and economic growth . Paper presented at the First Joint Annual Meeting of the Sierra Leone Studies and Liberian Studies Associations . April 6-9 , Charleston, SC. College of Charleston .
  • KARGBO , JM . 2000 . Impacts of monetary and macroeconomic factors on food prices in eastern and southern Africa . Applied Economics , 32 ( 11 ) : 1373 – 89 .
  • KARGBO , JM . Relative price shocks and food imports under structural adjustment programs in West Africa . Paper accepted for publication in EconModels.com . Elsevier Publishers . forthcoming
  • KIM , Y . 1990 . Purchasing power parity: another look at the long-run data . Economics Letters , 32 : 339 – 44 .
  • KRAVIS , IB and LIPSEY , RE . 1978 . Price behavior in the light of balance of payments theories . Journal of International Economics , 8 : 193 – 246 .
  • KRICHENE , N . 1998 . Purchasing power parities in five east African countries: Burundi, Kenya, Rwanda, Tanzania, and Uganda , Working Paper No. WP/98/148 Washington, DC : African Department . International Monetary Fund
  • LAYTON , AP and STARK , JP . 1990 . Co-integration as an empirical test of purchasing power parity . Journal of Macroeconomics , 12 ( 1 ) : 125 – 36 .
  • LIU , P . 1992 . Purchasing power parity in Latin America: a cointegration analysis . Weltwirtschaftliches Archiv , 128 ( 4 ) : 662 – 79 .
  • NAGAYASU , J . August 1998 . Does the long-run PPP hypothesis hold for Africa? Evidence from panel cointegration study , Working Paper No. WP/98/123 August , Washington, DC : African Department . International Monetary Fund
  • NYINAH , JB . 2000 . The collapsing currency . West Africa , 7-13 August : 10 – 1 .
  • ODEDOKUN , MO . 2000 . Fulfilment of purchasing power parity conditions in Africa: the differential role of CFA and non-CFA membership . Journal of African Economies , 9 ( 2 ) : 213 – 34 .
  • OFFICER , L . 1976 . The purchasing power parity theory of exchange rates: a review article . IMF Staff Papers , 23 : 1 – 60 .
  • OSTERWALD-LENUM , M . 1992 . A note with quantiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistics . Oxford Bulletin of Economics and Statistics , 54 ( 3 ) : 461 – 71 .
  • PATEL , J . 1990 . Purchasing power parity as a long-run relation . Journal of Applied Econometrics , 5 : 367 – 79 .
  • PHILLIPS , PCB and PERRON , P . 1988 . Testing for a unit root in time series regression . Biometrika , 75 : 335 – 46 .
  • QUANTITATIVE MICRO SOFTWARE (QMS) . 1998 . EVIEWS 3.1 user's guide, , 2nd edn , Irvine, CA : QMS .
  • SALEHIZADEH , M and TAYLOR , R . 1999 . A test of purchasing power parity for emerging economies . Journal of International Financial Markets, Institutions and Money , 9 : 183 – 93 .
  • TAYLOR , MP . 1988 . An empirical examination of long-run purchasing power parity using cointegration techniques . Applied Economics , 20 : 1369 – 81 .
  • TAYLOR , MP and MCMAHON , PC . 1988 . Long-run purchasing power parity in the 1920s . European Economic Review , 32 : 179 – 97 .
  • WORLD BANK . 1996 . Trends in developing economies , Washington, DC : World Bank .
  • WORLD BANK . 2000a . Can Africa claim the 21st century , Washington, DC : World Bank .
  • WORLD BANK . 2000b . _African development indicators 2000 , Washington, DC : World Bank .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.