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...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis
2011
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| Online Access: | http://psasir.upm.edu.my/id/eprint/22844/1/Purchasing%20power%20parity%20and%20efficiency%20of%20black%20market%20exchange%20rate%20in%20African%20countries.pdf |