English, Article edition: TESTING THE MODIFIED-COMBINED PPP AND UIP HYPOTHESIS IN SOUTH ASIAN ECONOMIES Abdul RASHID

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Physical Description
  • article
Language
  • English

Edition details

Title
  • TESTING THE MODIFIED-COMBINED PPP AND UIP HYPOTHESIS IN SOUTH ASIAN ECONOMIES
Author
  • Abdul RASHID
Physical Description
  • article
Notes
  • In this paper, the interrelations between PPP and UIP are modified and tested for South Asian economies using multivariate cointegration approach. The study uses monthly data and sample period varies cross-country according to floating exchange rate regime. The results obtained are highly supportive of this version of the combined PPP and UIP, which takes into account the non-traded and imperfect capital mobility phenomena. Consistent with the capital enhanced equilibrium exchange rates (CHEERs) approach, the determination of the nominal exchange rate is consistent with the UIP-PPP conditional equilibrium. The interaction between PPP and UIP has consequential implications for financial reforms, an exchange rate based stabilization program and exchange rate policy alike.
  • Purchasing Power Parity, Uncovered Interest Rate Parity, Equilibrium Exchange Rate, South Asian Economies, Fear of Floating, Multivariate Cointegration Analysis
  • RePEc:eaa:aeinde:v:9:y:2009:i:1_18
Language
  • English
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