In countries with underdeveloped financial markets, interest rate restrictions, depreciating currency and high rates of inflation, the store of value function of domestic money is disabled. Consequently, foreign money becomes the only alternative liquid form of financial wealth. Contradicting...

Monetary integration could have immense implications for both Palestine and Jordan. Two of what are regarded as prerogative functions of an independent state (monetary policy and control over the exchange rate) must be surrendered to a central monetary authority of the union. This will require...

This paper empirically assesses the impact of exchange rate policy on the performance of manufactured exports for four North African countries over the 1970-92 period. The impact of exchange rate policy is examined through the effect of three indicators: real effective exchange rate (RER)...