EN
Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries
Abstract
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.
Keywords
Ayrıntılar
Birincil Dil
İngilizce
Konular
-
Bölüm
-
Yayımlanma Tarihi
1 Eylül 2014
Gönderilme Tarihi
1 Eylül 2014
Kabul Tarihi
-
Yayımlandığı Sayı
Yıl 2014 Cilt: 4 Sayı: 3
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