Chang, Tsangyao; Lee, Chia-Hao; Hung, Ken - In: Applied Economics Letters 19 (2012) 12, pp. 1123-1127
We apply a newly developed Autoregressive Distributed Lag (ADL) test for threshold cointegration, proposed by Li and Lee (2010) to test the validity of long-run Purchasing Power Parity (PPP) for a sample of BRICS countries (i.e. Brazil, Russia, India, China and South Africa) over January 1996 to...