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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 2 Change rate in the currency and PPP against the United States (annual rate, unit: %).

From: An institutional approach and input–output analysis for explaining the transformation of the Turkish economy

Country

Period

Change rate in the currency against the US dollar

Change rate in PPP against the United Statesa

Canada

1971–1981

− 1.8

− 3.4

1981–1990

0.2

− 0.7

France

1972–1980

1.8

− 1.1

1980–1990

− 3.8

− 4.4

Japan

1970–1980

4.4

3.4

1980–1990

3.6

2.2

Netherlands

1972–1981

2.2

0.6

1981–1986

2.5

0.3

Turkey

1973–1985

− 49.5

− 30.9

1985–2003

− 59.3

− 64.3

2003–2011

− 1.8

− 9.1

United Kingdom

1979–1984

− 7.5

− 4.5

1984–1990

5.2

− 2.3

  1. aPPP is a hypothetical exchange rate. In a country, if the appreciation of PPP is higher than that of the nominal exchange rate, it means that the country’s exchange rate is under-valued. Closest periods between the countries and the United States were used to calculate the change rate in PPP in Table 2