Purchasing power parity and efficiency of black market exchange rate in African countries

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Purchasing power parity and efficiency of black market exchange rate in African countries

This paper investigates the long-run dynamics of black and official exchange rates for ten African countries. Our major findings are, first, that parity holds more favorably when the black market rate is used to validate the purchasing power parity hypothesis. The evidence supports the notion that t...

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Bibliographic Details
Main Authors:	Baharumshah, Ahmad Zubaidi, Mohd, Siti Hamizah, Soon, Siew Voon
Format:	Article
Language:	English
Published:	Taylor & Francis 2011
Online Access:	http://psasir.upm.edu.my/id/eprint/22844/ http://psasir.upm.edu.my/id/eprint/22844/1/Purchasing%20power%20parity%20and%20efficiency%20of%20black%20market%20exchange%20rate%20in%20African%20countries.pdf

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