Empirical relationships among money, output and consumer prices in nine Muslim-majority countries

Title: Empirical relationships among money, output and consumer prices in nine Muslim-majority countries
Creator: Hossain, Akhtar
Relation: Journal of Asian Economics Vol. 31-32, p. 42-56
Publisher Link: http://dx.doi.org/10.1016/j.asieco.2014.04.002
Publisher: Elsevier
Resource Type: journal article
Date: 2014
Description: This paper highlights the role of price stability in the integrity and sustainability of Islamic banking and finance (IBF) while investigating the sources of inflation and its volatility in nine Muslim-majority countries which have introduced IBF since the late 1970s. The empirical results, obtained by the Engle–Granger, Johansen and autoregressive distributed lag (ARDL) bounds tests with data extending back as far as the 1950s, suggest the presence of those cointegral and causal relations among money, output and prices that are implied by classical monetary theory. Balanced-panel results obtained by analysis of the same data-set over the shorter period 1975–2010 reinforce the results obtained for the individual countries for the varying sample periods.
Subject: Islamic monetary policy; high and volatile inflation; Muslim-majority countries; panel data
Identifier: http://hdl.handle.net/1959.13/1295861
Identifier: uon:19141
Identifier: ISSN:1049-0078
Language: eng
Reviewed

		Thumbnail	File	Description	Size	Format