Razzaghipour, Alipasha; Fleming, Grant; Heaney, Richard - In: Applied Economics 33 (2001) 9, pp. 1093-1100
This study analyses the process of mean reversion towards purchasing power parity (PPP) for a sample of Asian countries around the 1997 crisis. It is found that appreciation relative to PPP is evident prior to the 1997 crash period. Correction occurs from 1997 onwards, a period marked by extreme...