Re-examine the long-run purchasing power parity hypothesis for a high inflation country: the case of Turkey 1980–93

Erdinç Telatar · Hasan Kazdağli

61 citations0/0 files storedApplied Economics Letters

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Monetary Policy and Economic Impact Financial Markets and Investment Strategies Global Financial Crisis and Policies

Abstract

This paper examines the hypothesis of long-run purchasing Power Parity (PPP) using cointegration techniques for Turkey that experiences high inflation and structural changes coupled with high growth rates simultaneously. The results do not support any long-run bilateral exchange rate-price relationship between Turkey and each of the following countries considered to be the major trading partners of Turkey: France, Germany, the UK, and the USA.

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References

1979Distribution of the Estimators for Autoregressive Time Series with a Unit Root 1988Testing for a Unit Root in Time Series Regression 1981Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root 1979Distribution of the Estimators for Autoregressive Time Series With a Unit Root 1994Perspectives on PPP and Long-Run Real Exchange Rates 1988Cointegration and Tests of Purchasing Power Parity 1990Purchasing Power Parity in the Long Run: A Cointegration Approach 1976The Purchasing-Power-Parity Theory of Exchange Rates: A Review Article (Theorie de la parite des pouvoirs d'achat des taux de change: une etude) (La teoria de los tipos de cambio basados en la paridad del poder adquisitivo: Articulo de repaso)

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2009PURCHASING POWER PARITY IN LESS‐DEVELOPED AND TRANSITION ECONOMIES: A REVIEW PAPER 2003The Nature of Persistence in Turkish Real Exchange Rates 2007Purchasing power parity in OECD countries: Evidence from panel unit root 2017Empirical investigation of purchasing power parity for Turkey: Evidence from recent nonlinear unit root tests 2008

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