The law of one price for transitional Ukraine

Cushman, D.O., MacDonald, R. and Samborsky, M. (2001) The law of one price for transitional Ukraine. Economics Letters, 73(2), pp. 251-256. (doi:10.1016/S0165-1765(01)00495-5)

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Five commodity prices in Kiev, Ukraine, are examined for their movements relative to US counterparts during Ukraine’s early transition period of 1991–1992. Panel unit root tests are applied to the resulting commodity real exchange rates. Although the law of one price did not hold during the period, the commodity real exchange rates appear to have possessed deterministic trends that were in the direction of closing the initial considerable price gap.

Item Type:Articles
Glasgow Author(s) Enlighten ID:MacDonald, Professor Ronald
Authors: Cushman, D.O., MacDonald, R., and Samborsky, M.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Economics Letters
Published Online:30 September 2001

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