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Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries

Year 2015, Volume: 5 Issue: 2, 603 - 612, 01.06.2015

Helmi Hamdi Ali Said Rashid Sbia

Abstract

The broad aim of this paper is to estimate the money demand function for the case of six Gulf Cooperation Council countries. By applying panel cointegration tests, the empirical results reveal strong evidence of cointegration between the variables of the model for individual countries as well as for the panel. Moreover, the results support the existence of a stable money function in the long-run estimation. The Granger non-causality test due to Toda and Yamamoto (1995) procedure shows evidence of a bidirectional causal relationship between money demand and income for panel estimation. At an individual level, the results change from one country to another one.

Keywords

Money Demand GCC Panel Cointegration Toda-Yamamoto

Year 2015, Volume: 5 Issue: 2, 603 - 612, 01.06.2015

Helmi Hamdi Ali Said Rashid Sbia

Abstract

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Details

Other ID JA46GC62TC
Journal Section Research Article
Authors

Helmi Hamdi This is me

Ali Said This is me

Rashid Sbia This is me

Publication Date June 1, 2015
Published in Issue Year 2015 Volume: 5 Issue: 2

Cite

APA Hamdi, H., Said, A., & Sbia, R. (2015). Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries. International Journal of Economics and Financial Issues, 5(2), 603-612.
AMA Hamdi H, Said A, Sbia R. Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries. IJEFI. June 2015;5(2):603-612.
Chicago Hamdi, Helmi, Ali Said, and Rashid Sbia. “Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries”. International Journal of Economics and Financial Issues 5, no. 2 (June 2015): 603-12.
EndNote Hamdi H, Said A, Sbia R (June 1, 2015) Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries. International Journal of Economics and Financial Issues 5 2 603–612.
IEEE H. Hamdi, A. Said, and R. Sbia, “Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries”, IJEFI, vol. 5, no. 2, pp. 603–612, 2015.
ISNAD Hamdi, Helmi et al. “Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries”. International Journal of Economics and Financial Issues 5/2 (June 2015), 603-612.
JAMA Hamdi H, Said A, Sbia R. Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries. IJEFI. 2015;5:603–612.
MLA Hamdi, Helmi et al. “Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries”. International Journal of Economics and Financial Issues, vol. 5, no. 2, 2015, pp. 603-12.
Vancouver Hamdi H, Said A, Sbia R. Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries. IJEFI. 2015;5(2):603-12.