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:: Volume 9, Issue 2 (Spring 2014) ::
J. Mon. Ec. 2014, 9(2): 140-166 Back to browse issues page
Currency :::union::: and Bilateral Trade: Evidence from OIC Countries
Ali Fegheh Majidi *
University of Kurdistan
Abstract:   (1325 Views)

In recent years, there has been an increasing interest in currency ::union::s internationally. The formation of currency ::union:: in Organization of Islamic Cooperation (OIC) has drawn much attention of Islamic countries. This paper aims to investigate the effect of currency ::union:: formation for trade among 49 Islamic countries over the period 1990-2012 by OCA and Augmented Gravity Model (AGM). The results show that common language, borders, and trade ::union::s had positive and significant effect on trade in OIC countries; and being landlocked and distance between source and host countries had negative and significant effect on bilateral trade. Also, the currency ::union:: had positive and significant effects on trade in OIC countries. The evidence thus suggests that regional currency ::union:: arrangements stimulate bilateral trade in OIC rigorously.

JEL Classification: F47, E49         

Keywords: Currency :::union:::, Augmented Gravity Model, OIC, OCA Theory
Full-Text [PDF 504 kb]   (776 Downloads)    
Type of Study: Research | Subject: Monetary Economics
Received: 2014/12/31 | Accepted: 2016/10/22 | Published: 2016/10/22
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Fegheh Majidi A. Currency :::union::: and Bilateral Trade: Evidence from OIC Countries. J. Mon. Ec.. 2014; 9 (2) :140-166
URL: http://jme.mbri.ac.ir/article-1-108-en.html

Volume 9, Issue 2 (Spring 2014) Back to browse issues page
Journal of Money and Economy Journal of Money And Economy
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