Financial liberalization might be expected to have caused onetime shifts in money velocity or changes in the responsiveness of money demand to changes in incomes and interest rates. This study tends to examine the impact of financial liberalization on the money growth variability and money...

This paper employs the bounds testing approach for cointegration analysis (Pesaran et al., 2001) to examine the impact of interest rate and exchange rate on output, and then uses the estimated weights to construct Monetary Conditions Index (MCI) for Singapore over the quarterly period 1981-2004....

This main objective of this paper is to construct the augmented monetary conditions index (hereafter MCI) over the quarterly period 1982:1-2007:4 using bounds test approach for cointegration analysis. Results reveal evidence of cointegration between the real output (LRGDP) and its determinants...

This paper constructs the Augmented Monetary Conditions Index (AMCI) from 1982:1 to 2004:4 using Unrestricted Error Correction Model (UECM) and bounds test approach for the Philippines data. The results reveal evidence of cointegration between the real Gross Domestic Product (GDP) and its...

This main objective of this paper is to construct the augmented monetary conditions index (hereafter MCI) over the quarterly period 1982:1-2007:4 using bounds test approach for cointegration analysis. Results reveal evidence of cointegration between the real output (LRGDP) and its determinants...

: This paper constructs the Monetary Conditions Index (MCI) over the quarterly period 1983:2-2004:4, using the bounds test approach proposed by Pesaran et al. (2001). The bounds test evidently reveals long-run relationship between the real GDP and its determinants, i.e., long-term interest rate,...

Investors react adversely to the announcements of rights offers in Hong Kong and the abnormal return of rights offers on the announcement day is −12.10%. After taking price discounts, underwriting fees and abnormal returns into consideration, the total direct and indirect costs of the seasoned...

The study aims to examine the robustness of different PPP models by applying different types of econometric techniques in ASEAN-Five economies from 1983:M1 to 2002:M9. Two versions of PPP theory have been estimated within Engle-Granger bivariate cointegration test, Johansen- Juselius...

This paper aims to examine whether inflation targeting fits in Malaysia. The relationship between CPI, money supply (M1), money market rate, and exchange rate of the Malaysian economies from 1976:M1 to 2007:M12 is tested, considering the major transmission mechanism channels in the conduct of...