Please use this identifier to cite or link to this item: https://repository.cihe.edu.hk/jspui/handle/cihe/4394
DC FieldValueLanguage
dc.contributor.authorShum, Paul Kwok Chingen_US
dc.contributor.otherLee, S.-K.-
dc.contributor.otherWoo, K.-Y.-
dc.date.accessioned2024-03-21T10:25:13Z-
dc.date.available2024-03-21T10:25:13Z-
dc.date.issued2023-
dc.identifier.urihttps://repository.cihe.edu.hk/jspui/handle/cihe/4394-
dc.description.abstractThe Chinese Government has promulgated the “Belt and Road Initiative” (BRI) to increase trade flows and integrate goods markets between China and BRI countries. The validity of purchasing power parity (PPP) implies well-integrated goods markets, a precondition for further economic convergence, and the next stage of economic integration in factor, service, and financial markets. Our study aims to examine the validity of the PPP and the extent of goods market integration between China and selected BRI countries in Africa. Since the functional form of the cointegrating relationship may not be exact or linear, we adopt the nonparametric rank tests for analysis without prior knowledge and specification of the functional form. We also address the rank problems that occur in multivariate rank tests. Our empirical results provide strong evidence of an unrestricted PPP relationship with reasonably strong evidence of nonlinearity in the data. We also find that some African BRI countries have experienced goods market integration with China during the second-half period only. This indicates that the introduction of the BRI in 2013 and China's active involvement in African economic development through BRI projects are leading to enhanced goods market integration between China and Africa. The results indicate favorable prospects of closer economic cooperation in the factor, service, and financial markets to build a free trade area or common markets with BRI countries in Africa.en_US
dc.language.isoenen_US
dc.publisherJohn Wiley & Sonsen_US
dc.relation.ispartofInternational Studies of Economicsen_US
dc.titleTests of goods market integration between China and African BRI countriesen_US
dc.typejournal articleen_US
dc.identifier.doi10.1002/ise3.71-
dc.contributor.affiliationRita Tong Liu School of Business and Hospitality Managementen_US
dc.relation.issn2831-3224en_US
dc.cihe.affiliatedYes-
item.openairetypejournal article-
item.fulltextWith Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_6501-
item.grantfulltextopen-
item.cerifentitytypePublications-
item.languageiso639-1en-
crisitem.author.deptRita Tong Liu School of Business and Hospitality Management-
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