 La PPA est-elle vérifiée pour les pays développés et en développement ? Un ré-examen par l'économétrie des panels non stationnairesChristophe Rault and Imed Drine Post-Print from HAL Abstract: The aim of this paper is to apply recent advances in the econometrics of non-stationary dynamic panel methods to examine the robustness of the PPP concept for a sample of seventy three developed and developing countries. Our investigations indicate that the strong form of PPP holds for OECD and Middle Eastern and North African countries. However in Africa, Asia, Latin America and the CEECs, PPP does not seem relevant to characterising the long-run behaviour of the real exchange rate. A widening of our field of analysis shows that the nature of the exchange rate regime does not condition the validity of the PPP, and that the PPP is more easily accepted in countries with high inflation rates than those with low rates. © La Doc. française. Keywords: Developed country; Developing country; Panel unit-root and cointegration tests; Purchasing power parity; Real exchange rate (search for similar items in EconPapers) Published in Économie Internationale, 2004, 97 (1), pp.49--80. ⟨10.3917/ecoi.097.0049⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02878000 Access Statistics for this paper More papers in Post-Print from HAL |
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