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Purchasing power parity in the presence of foreign exchange black markets: the case of India

โœ Scribed by Baghestani, Hamid

Book ID
120465483
Publisher
Taylor and Francis Group
Year
1997
Tongue
English
Weight
830 KB
Volume
29
Category
Article
ISSN
0003-6846

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## Abstract We examine the purchasing power parity (PPP) hypothesis using a unique panel of monthly data on black market exchange rates for 34 emerging market economies. We apply a large number of recent heterogeneous panel unit root and cointegration tests. Panel unit root tests reject mean revers