Structural breaks in parallel markets?: the case of Nigeria, 1980-1993

• 成果类型: Article
• 署名作者: Ashworth, J; Evans, L; Teriba, A
• 署名单位: Durham University
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/S0304-3878(98)00112-6
• 发表日期: 1999
• 页码: 255-264
• 关键词: parallel markets; Structural Breaks

摘要

This paper demonstrates the importance of allowing for structural breaks in the time-series when investigating the relationship between the official and the parallel markets in foreign exchange. Only when structural breaks are accounted for does a relationship emerge in Nigeria. We find that over the period 1980-1993, the official rate has Granger-caused the parallel rate. (C) 1999 Elsevier Science B.V, All rights reserved.