Do Capital Inflows Cause Currency Black Markets in MENA? Causality Tests for Heterogeneous Panels
Do Capital Inflows Cause Currency Black Markets in MENA? Causality Tests for Heterogeneous Panels
复制标题
资本流入会导致中东和北非地区的货币黑市吗？
DOI：
--
复制
发表时间：
2006
影响因子：
--
通讯作者：
O. Suliman
中科院分区：
文献类型：
--
作者：
O. Suliman
本文研究了 1984 年至 2004 年期间八个中东和北非国家 (MENA) 的资本流入成分与货币黑市溢价 (BMP) 之间的反馈因果关系。采用 MFR 和平均 Wald 统计方法来检验因果关系。两种方法都给出了相似的结果。对于中等收入国家、低收入国家以及石油和非石油国家来说，因果关系结果和政策影响是不同的。资本流入组成部分和 BMP 与开放度和人力资本的相互作用可能会起到缓解因素的作用，抵消一些与货币危机相关的资本外流。
This paper examines feedback causality between capital inflow components and currency black market premiums (BMP) in a panel of eight Middle Eastern and North African countries (MENA) over the period 1984-2004. MFR and average Wald statistics approaches were employed to test for causality. Both approaches gave similar results. Causality results and policy implications are different for middle income, low income, and oil and non-oil countries. Interactions of capital inflow components and BMP with openness and human capital may act as mitigating factors, offsetting some capital outflows associated with currency crises.
用面板数据估计向量自回归
影响因子：
6.1
作者：
HOLTZEAKIN, D;NEWEY, W;ROSEN, HS
通讯作者：
ROSEN, HS