国际货币基金组织：2025年巴布亚新几内亚：若干问题报告（英文版）

This paper employs various empirical methods to test the Purchasing Power Party (PPP)hypothesis in West and Central Africa, considering countries wihin the WAEMU, CEMAC, CFA, and ECOWAScurrency zones and four possible numeraire currencies-U.S. dollar, euro, renmimbi, and the CFA franc. Usingpanel and single-country unit-root, cointegration, error-correction techniques, our findings indicate that thenumeraire currency matters for evidence in favor of PPP. Results show slightly stronger evidenc