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

Tsangyao Chang, Yang-Cheng Lu, D. P. Tang and Wen-Chi Liu

Applied Economics, 2011, vol. 43, issue 2, 231-242

Abstract: 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.

Date: 2011
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DOI: 10.1080/00036840802467073

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