The purchasing power parity (PPP) has been amongst the most tested theories in the international finance literature. The empirical findings from the extant literature for the PPP hypothesis are mixed. This article applies univariate and panel Lagrange Multiplier (LM) unit root tests with one and...

This study examines the short-run and long-run causality issues between electricity consumption and economic growth in Turkey for 1968–2006 period by using Granger causality models augmented with a lagged error-correction term. The bounds F–test for cointegration test yields evidence of a...

This study examines the validity of the purchasing power parity (PPP) in 8 transition countries for monthly data from 1992:1 to 2009:1. While results from both the ADF unit root and the KPSS unit root test indicate that PPP does not hold for Bulgaria, Croatia, Czech Republic, Hungary, Macedonia...