01686cas a2200241 a 4500 AALejournalIMF000699 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451854589 1018-5941 BD-DhAAL BD-DhAAL Nagayasu, Jun. Does the Long-Run Ppp Hypothesis Hold for Africa? : Evidence From Panel Co-Integration Study / Jun Nagayasu. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (22 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper addresses whether parallel market exchange rates in Africa behave in the long run in a manner consistent with the purchasing power parity (PPP) hypothesis. A recent econometric method, the panel co-integration test, enables us to examine the long-run PPP hypothesis by pooling the time-series data of several countries. This approach is particularly useful when analyzing African countries, which often do not have long time series. Using pooled data for 16 African countries, the study concludes that the behavior of parallel market exchange rates in Africa is consistent with the long-run PPP hypothesis. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1998/123 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/123/001.1998.issue-123-en.xml IMF e-Library