In this study, the validity of Purchasing Power Parity (PPP) hypothesis is investigated by using unit root test on official and black market exchange rates for Turkey. When we used the classical unit root test, we found poor evidence for the validity of PPP in classical PP test but no evidence...

This article examines sustainability of current account for Colombia, Peru, Venezuela, Mexico, Brazil and Argentina. Using the usual intertemporal borrowing constraint, we have tested for a long-run relationship between exports and imports plus net transfer payments and net interest payments. In...

The validity of purchasing power parity (PPP) is examined between Turkey and trading partners, namely USA, Germany, Japan, France, Netherlands and UK. Different unit root test and different base countries are used to determine if the validity of PPP is influenced by the type of test and/or the...

This paper examines sustainability of the fiscal stances of South Korea, Mexico, the Philippines, South Africa and Turkey. Using the usual intertemporal borrowing constraint, we have tested for a long-run relationship between revenue and expenditure plus interest payments. In our empirical...

This article studies the time series properties of saving and investment rates for 23 OECD countries using error correction model (ECM) developed by Jansen and Schulze (1996) and Jansen (1996). Applying the ECM to the OECD countries, we find that Denmark, France, Greece, Italy, Japan, Spain,...