Real exchange rate behavior in the Middle East : a re - examination *
نویسنده
چکیده
This letter extends recent work by Bahmani-Oskooee (Bahmani-Oskooee, M., Do exchange rates follow a random walk process in Middle Eastern countries? Economics Letters 1998;58:339–344) on testing long-run purchasing power parity for Middle Eastern countries during the post-Bretton Woods period. Using multivariate nonlinear models, strong support is provided for highly nonlinear reversion of real exchange rates toward a stable equilibrium for each country examined. 2000 Elsevier Science S.A. All rights reserved.
منابع مشابه
Factors Associated with FDI Inflows to MENA Region: An Empirical Examination
T he purpose of the current research was to empirically examine the relationship between six independent variables and foreign direct investment (FDI) inflows (dependent variable) to countries in the Middle East and North Africa (MENA) region for the period of 2002-2016. The independent variables studied in this research were foreign exchange systems, go...
متن کاملA Study of the Real Exchange Rate Behavior and its Effects on Macroeconomic Variables
In this article, real exchange rate behavior and its effects on macroeconomic variables are studied by explaining two models; impulse function and forecasting predicted error decomposition. Studies show that high artificial currency value has caused domestic and foreign accounts equilibrium disturbance and foreign income decrease due to the slackening of commercial and agricultural activities, ...
متن کاملبرآورد نرخ حقیقی ارز در کشورهای عمده صادرکننده نفت (2005-1970)
The purpose of this paper is to study the main determinants of the bilateral real exchange rates for major oil exporting countries vis-à-vis the US dollar. Taking into account the impact of the real oil prices on real exchange rates, it may be observed that oil prices play a significant part in determining the terms of trade. In addition to the real oil price, two other fundamental factors that...
متن کاملMonetary Fundamental-Based Exchange Rate Model in Iran: Applying a MS-TVTP Approach
T he main purpose of this article is to analyze exchange rate behavior based on monetary fundamentals in the context of Iranian economy over the period 1990:2 to 2014:3. To do so, two monetary exchange rate models is investigated, the first by regarding interest rate differential as a monetary variable, and the second one regardless of interest rate differential as a monetary variabl...
متن کاملConvergence of Real Per Capita GDP within East Asian and Middle East Countries: Panel Unit Root Evidence
This paper examines convergence of real GDP per capita in the selected East Asian countries and this relationship with selected Middle East countries during the period 1950-2009. The reason behind this refers to the fact that East Asia countries (including China, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Japan and South Korea) have been involved in achieving success arising from regi...
متن کامل