The paper estimates a behavioral equilibrium exchange rate model for Ghana. Regression results show that most of the …-partner countries), and the real world prices of Ghana''s main export commodities. On the basis of these fundamentals, the REER in late …

-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic error-correction models are specified …

Employing cointegration techniques, the long-run determinants of Madagascar''s real exchange rate are examined from a …

This paper applies the maximum likelihood panel cointegration method of Larsson and Lyhagen (2007) to test the strong … contrasted to those from the Pedroni (1995) cointegration tests and fully modified OLS and dynamic OLS esimators of the …

In this paper, we derive evidence on the integration of international stock markets from the cointegration properties … of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six … subgroup analyses also indicate that the cointegration relationships have become stronger over time. This is consistent with …