Currency Substitution And The Demand For Money In The Arab Maghreb

Domaine:

socioeconomic

Type de record:

paper

Créateur:

OmaMoh

Éditeur:

Clu

Hôte:

The purpose of this paper is to estimate the demand for money for Al-Maghreb Al-Arabi countries by taking into account the currency substitution and rational expectation over the period 1964 to 1987. The results indicate that currency substitution exists in Morocco, Libya, and Mauritania; whereas it is absent from Algeria and Tunisia. The pooled data for the five counties indicate that currency substitution is not an important factor in determining money demand.

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