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Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries

Yıl 2014, Cilt: 4 Sayı: 3, 494 - 500, 01.09.2014

Ferit Kula , Alper Aslan Ilhan Ozturk

https://izlik.org/JA89GH29AX

Öz

This study makes an attempt to examine the long run relationship between the official and black market exchange rates using monthly data for a sample of 13 Middle East and Northern African (MENA) countries from 1970 to 1998. Using the Pool Mean Group framework, the article provides evidence on proportional long run relationship between black and official market exchange rates in sample countries. The positive common long run official exchange rates (OEX) elasticity is statistically significant and slightly greater than one. The hypothesis of portfolio balance model is confirmed, implying that there exists a proportional long run equilibrium relationship between official exchange rates and black market exchange rates. However, the short run dynamics remain heterogeneous across countries.

Anahtar Kelimeler

Black market exchange rate official exchange rates Panel data Panel cointegration MENA countries

Yıl 2014, Cilt: 4 Sayı: 3, 494 - 500, 01.09.2014

Ferit Kula , Alper Aslan Ilhan Ozturk

https://izlik.org/JA89GH29AX

Öz

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Ayrıntılar

Diğer ID JA62HT26HH
Yazarlar

Ferit Kula

Alper Aslan Bu kişi benim

Ilhan Ozturk Bu kişi benim

Yayımlanma Tarihi 1 Eylül 2014
IZ https://izlik.org/JA89GH29AX
Yayımlandığı Sayı Yıl 2014 Cilt: 4 Sayı: 3

Kaynak Göster

APA Kula, F., Aslan, A., & Ozturk, I. (2014). Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries. International Journal of Economics and Financial Issues, 4(3), 494-500. https://izlik.org/JA89GH29AX
AMA 1.Kula F, Aslan A, Ozturk I. Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries. IJEFI. 2014;4(3):494-500. https://izlik.org/JA89GH29AX
Chicago Kula, Ferit, Alper Aslan, ve Ilhan Ozturk. 2014. “Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries”. International Journal of Economics and Financial Issues 4 (3): 494-500. https://izlik.org/JA89GH29AX.
EndNote Kula F, Aslan A, Ozturk I (01 Eylül 2014) Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries. International Journal of Economics and Financial Issues 4 3 494–500.
IEEE [1]F. Kula, A. Aslan, ve I. Ozturk, “Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries”, IJEFI, c. 4, sy 3, ss. 494–500, Eyl. 2014, [çevrimiçi]. Erişim adresi: https://izlik.org/JA89GH29AX
ISNAD Kula, Ferit - Aslan, Alper - Ozturk, Ilhan. “Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries”. International Journal of Economics and Financial Issues 4/3 (01 Eylül 2014): 494-500. https://izlik.org/JA89GH29AX.
JAMA 1.Kula F, Aslan A, Ozturk I. Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries. IJEFI. 2014;4:494–500.
MLA Kula, Ferit, vd. “Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries”. International Journal of Economics and Financial Issues, c. 4, sy 3, Eylül 2014, ss. 494-00, https://izlik.org/JA89GH29AX.
Vancouver 1.Ferit Kula, Alper Aslan, Ilhan Ozturk. Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries. IJEFI [Internet]. 01 Eylül 2014;4(3):494-500. Erişim adresi: https://izlik.org/JA89GH29AX