Economics, Econometrics and Finance
7 years ago

New test reveals more African countries meeting purchasing power parity criteria

Applied Economics Letters
Non-linear quantile unit root test and PPP: more evidence from Africa
Mohsen Bahmani‐Óskooee, Tsangyao Chang, Zahra Elmi, Abera Gelan, Omid Ranjbar

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The article examines the purchasing power parity (PPP) hypothesis in 29 African countries by analyzing their real exchange rates. Traditional tests support PPP in 8 countries, but a new non-linear test shows support in 15 countries.