This paper attempts to provide evidence indicating that the purchasing power parity (PPP) puzzle is becoming less of a puzzle. It present the results of Augmented Dickey-Fuller test, non-linear tests of non-stationarity and Bayesian unit root tests, applied to 10 Southern African Development...

In this paper we are primarily concerned with assessing the degree of capital mobility in sub-Saharan Africa. Using the methodology as proposed by Feldstein and Horioka (1980)-later termed the "Feldstein-Horioka puzzle"-we test the hypothesis of perfect capital mobility against the alternative...

This paper utilises "a class test for fractional integration" associated with the seminal contribution of Hinich and Chong to appraise the possibility that Southern African Development Community (SADC) real exchange rates can be treated as long memory processes. The justification for considering...