, Japan and Singapore) using cointegration methodologies in order to explore interdependence. We further estimate the time …

in this literature we use a panel cointegration test, developed by Westerlund (2006), which allows us to incorporate … multiple structural breaks. We find that using Gregory and Hansen's (1996) residual-based test for cointegration and Pedroni …'s (1999) panel cointegration test without structural breaks provide weak evidence of cointegration between nominal exchange …