Bahmani-Oskooee, Mohsen; Goswami, Gour G. - In: Journal of Economic Development 28 (2003) 2, pp. 23-38
In theoretical literature, smuggling is considered as a factor contributing to the deviation of the PPP-based exchange rates from the equilibrium exchange rates with little empirical support. In this paper, we used panel data for 33 developing countries over the period 1982-1995 and used panel...