EconPapers    
Economics at your fingertips  
 

Empirical Evidence on the Long-Run Money Demand Function in the Gulf Cooperation Council Countries

Helmi Hamdi (), Ali Said and Rashid Sbia ()
Additional contact information
Ali Said: Strayer University, United States,

International Journal of Economics and Financial Issues, 2015, vol. 5, issue 2, 603-612

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; Gulf Cooperation Council; Panel Cointegration; Toda–Yamamoto (search for similar items in EconPapers)
JEL-codes: C22 C23 E41 E52 F41 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
http://www.econjournals.com/index.php/ijefi/article/download/1158/pdf (application/pdf)
http://www.econjournals.com/index.php/ijefi/article/view/1158/pdf (text/html)

Related works:
Working Paper: Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2015-02-33

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().

 
Page updated 2022-09-22
Handle: RePEc:eco:journ1:2015-02-33