Long run tendencies and short run adjustments between official and black market exchange rates in MENA countries

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dc.contributor.authorKula,Ferit
dc.contributor.authorAslan, Alper
dc.contributor.authorÖztürk, İlhan
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:25:46Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:25:46Z
dc.date.issued2014
dc.departmentMeslek Yüksekokuluen_US
dc.description.abstractThis 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.en_US
dc.identifier.endpage500en_US
dc.identifier.issn2146-4138
dc.identifier.issue3en_US
dc.identifier.scopus2-s2.0-84979823466
dc.identifier.scopusqualityN/A
dc.identifier.startpage494en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12507/424
dc.identifier.volume4en_US
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherEconjournalsen_US
dc.relation.ispartofInternational Journal of Economics and Financial Issues
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectBlack Market Exchange Rateen_US
dc.subjectMENA Countriesen_US
dc.subjectOfficial Exchange Ratesen_US
dc.subjectPanel Cointegrationen_US
dc.subjectPanel Dataen_US
dc.titleLong run tendencies and short run adjustments between official and black market exchange rates in MENA countries
dc.typeArticle

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