A direct test of the endogeneity of money: Implications for Gulf Cooperation Council (GCC) countries

Bedri Kamil Onur Tas*, Selahattin Togay

*المؤلف المقابل لهذا العمل

نتاج البحث: المساهمة في مجلةمراجعة النظراء

10 اقتباسات (Scopus)

ملخص

This paper contributes to the ongoing discussion about the endogeneity of money supply by empirically investigating the GCC countries. We propose and implement a direct test of money supply endogeneity that depends on econometric specification of exogeneity which has not been used in the literature before. To be able to make comparisons with previous studies, we also conducted Granger Causality tests to analyze the causality relationship between bank credit and money supply. Both of the empirical studies provide empirical evidence for the endogeneity of money supply in GCC countries. The results of the paper have many significant monetary policy implications for the upcoming monetary unification of the GCC countries.

اللغة الأصليةEnglish
الصفحات (من إلى)577-585
عدد الصفحات9
دوريةEconomic Modelling
مستوى الصوت29
رقم الإصدار3
المعرِّفات الرقمية للأشياء
حالة النشرPublished - مايو 2012
منشور خارجيًانعم

ASJC Scopus subject areas

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