DOIONLINE

DOIONLINE NO - IJMAS-IRAJ-DOIONLNE-2828

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International Journal of Management and Applied Science (IJMAS)-IJMAS
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Volume Issue
Issue
Volume-1,Issue-7  ( Aug, 2015 )
Paper Title
Purchasing Power Parity In West African Monetary Zone
Author Name
Afolabi Luqman.O, Noraznin Abu Bakar
Affilition
School of Economics, Finance and BankingUUM CO B, Malaysia
Pages
144-149
Abstract
-The purpose of this article is to test the validity of long run Purchasing Power Parity (PPP) in West Africa Monetary Zone which is under ECOWAS regional bloc over the period of April 1980 to January 2014 .We employ ADF and PP unit root test, then proceed further with Johansen cointegration also in order to compare the outcome of our results.Panel unit root and cointegration method were also employed respectively,.Empirical results from both time series and panel approach testing indicated that PPP holds for WAMZ under ECOWAS. Our finding possesses significant policy implications for WAMZ under ECOWAS. Keywords-Purchasing Power Parity, Panel Unit Root Tests, Panel Cointegration, Economic Community of West Africa States and West Africa Monetary Zone.
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