A dynamic analysis of monetary policy in Sudan: A VAR approach

Aydın Çeçen and Tarig Sali̇h
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Aydın Çeçen: Central Michigan University

Iktisat Isletme ve Finans, 2008, vol. 23, issue 269, 7-24

Abstract: This paper is aimed at measuring the impact of monetary instruments such as the Musharaka rates on macroeconomic variables during the period 1990-2007 in Sudan. The results of the VAR (Vector Autoregressive) analysis, inter alia, reveal a negative but statistically insignificant relationship between the Musharaka rates and the money supply; contractionary monetary policies lead to the appreciation of the local currency. It is also found that Granger causality exits between money supply and the Musharaka rates.

Keywords: Granger Causality; Islamic Banking; Vector Autoregression. (search for similar items in EconPapers)
JEL-codes: E32 E52 E58 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:iif:iifjrn:v:23:y:2008:i:269:p:7-24

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