Money, inflation and causality in a financially repressed economy: Algeria, 1970—88

Beltas, Abdelkader; Jones, Tracey

doi:10.1080/00036849300000055

Cited by 10 publications

(4 citation statements)

References 17 publications

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“…In other words, a continuing and rapid rise in the general price level must be driven by a continually increasing money supply. Many empirical literatures have confirmed this proposition (Yang [19], Parikh [13], Beltas and Jones [2], Cheng [3], and Karras [7]).…”

Section: Introductionmentioning

confidence: 79%

Exploring the Impact of Openness on Inflation in Taiwan: Mediation Analysis With A Quantile Approach

Hsu

2020

Wseas Transactions on Business and Economics

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This paper adopts an innovative method, which is totally different from the past research studies, combining mediation analysis and a quantile regression to examine the impact of openness on inflation whether through money supply or not from 1961 to 2019 in Taiwan. The result of the traditional ordinary least square approach shows that Taiwan’s trade openness affects inflation through the full mediation effect of money supply for the period of 1961-2019 and there is no direct relation between trade openness and inflation. However, the results of this innovative approach indicate that Taiwan’s trade openness affects inflation through the partial mediation effect of money supply at 0.3 and 0.5 distributions of inflation. This result indicates that trade openness not only does directly affect inflation, but also indirectly affects inflation through the money supply

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Section: Introductionmentioning

confidence: 79%

Exploring the Impact of Openness on Inflation in Taiwan: Mediation Analysis With A Quantile Approach

Hsu

2020

Wseas Transactions on Business and Economics

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“…For Algeria, Beltas and Jones (1993) apply Granger method and find unidirectional causality running from narrow definition of money supply to inflation for the period 1970-88. For Bangladesh, Chowdhury, Dao and Wahid (1995) investigate the causal relationship between money, prices, output, and exchange rate for the period 1974-92.…”

Section: Literature Reviewmentioning

confidence: 99%

Causal Relationship between Money and Inflation during a High Inflation Period: The Case of Turkey

Gocmen¹

2016

JIBE

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This paper reexamines the causal relationship between money supply and inflation in the context of Turkish economy. Co integration and Error Correction models are applied to monthly data covering the period 1970-1996. Most previous studies on the relationship between money and prices estimate a bivariate model raising the possibility of omitted variable bias. The present paper overcomes this problem by using both bivariate and multivariate models. In contrast to most previous studies on Turkey, the present study finds a feedback relationship between money supply and inflation. However, the causality from inflation to money supply is much stronger than the causality from money supply to inflation both in the bivariate and multivariate model. In order to provide more light on the money-price nexus and to see if the empirical results are sensitive to the series used, the causal relationship is also investigated by using the price level measured by the CPI. It is found that there is one-way causality from money supply to price level in the bivariate model and feedback relationship in the multivariate model.

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“…2/ Prior to the adoption of the reforms, all three countries shared some characteristics of financial repression such as interest rate controls, domestic credit controls, high reserve requirements, segmented financial markets, and controls on international capital flows. As in other LDCs, these measures led to disintermediation in domestic banks, escalation of unregulated financial markets and nonbank financial institutions and, I/ See, for example, Beltas and Jones (1993) for an application to Algeria; Kamath (1985) for India; Parikh (1990) for Indonesia; Togan (1987) for Turkey; and Yang (1990) for Taiwan.…”

Section: Financial Sector Reform and The Relationship Betweenmentioning

confidence: 99%

Financial Liberalization and the Information Content of Money in Indonesia, Korea and the Philippines

Hamann

1993

SSRN Journal

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Money, inflation and causality in a financially repressed economy: Algeria, 1970—88

Cited by 10 publications

References 17 publications

Exploring the Impact of Openness on Inflation in Taiwan: Mediation Analysis With A Quantile Approach

Exploring the Impact of Openness on Inflation in Taiwan: Mediation Analysis With A Quantile Approach

Causal Relationship between Money and Inflation during a High Inflation Period: The Case of Turkey

Financial Liberalization and the Information Content of Money in Indonesia, Korea and the Philippines

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