Empirical evidence on the long-run money demand function in the gulf cooperation council countries

Helmi Hamdi, Ali Said and Rashid Sbia

ULB Institutional Repository from ULB -- Universite Libre de Bruxelles

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: Gulf Cooperation Council; Money Demand; Panel Cointegration; Toda–Yamamoto (search for similar items in EconPapers)
Date: 2015
Note: SCOPUS: ar.j
References: Add references at CitEc
Citations:

Published in: International Journal of Economics and Financial Issues (2015) v.5 n° 2,p.603-612

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Empirical Evidence on the Long-Run Money Demand Function in the Gulf Cooperation Council Countries (2015)
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:ulb:ulbeco:2013/199937

Ordering information: This working paper can be ordered from
http://hdl.handle.ne ... lb.ac.be:2013/199937

Access Statistics for this paper

More papers in ULB Institutional Repository from ULB -- Universite Libre de Bruxelles Contact information at EDIRC.
Bibliographic data for series maintained by Benoit Pauwels ().