Bahmani-Oskooee, Mohsen; Chang, Tsangyao; Wu, Tsungpao - In: Applied Financial Economics 24 (2014) 22, pp. 1429-1438
In this study, we apply the Panel Stationary test with both sharp and smooth breaks to test the validity of long-run purchasing power parity (PPP) for 20 African countries using quarterly data over the period 1971I-2012IV. Empirical results of Panel stationary tests with both sharp and smooth...