Sanchez-Fung, Jose R. (1999) Efficiency of the black market for foreign exchange and PPP: the case of the Dominican Republic. Applied Economics Letters, 6 (3). pp. 173-176. ISSN 1350-4851. (doi:10.1080/135048599353573) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:16591)
| The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. | |
| Official URL: http://dx.doi.org/10.1080/135048599353573 |
Abstract
Efficiency of the black market for foreign exchange in a developing country can be assessed by testing whether that market complies with the 'relative' version of the purchasing power parity hypothesis. This paper applies nonstationarity and cointegration to investigate this hypothesis for the Dominican Republic. Both the Engle-Granger and Johansen techniques support cointegration, so the black market for foreign exchange in the Dominican Republic is efficient.
| Item Type: | Article |
|---|---|
| DOI/Identification number: | 10.1080/135048599353573 |
| Subjects: |
H Social Sciences > HC Economic History and Conditions H Social Sciences > HB Economic Theory |
| Divisions: | Divisions > Division of Human and Social Sciences > School of Economics |
| Depositing User: | F.D. Zabet |
| Date Deposited: | 28 Mar 2009 19:13 UTC |
| Last Modified: | 05 Nov 2024 09:51 UTC |
| Resource URI: | https://kar.kent.ac.uk/id/eprint/16591 (The current URI for this page, for reference purposes) |
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