Open Access

The impact of a political shock on foreign exchange markets in a small and open economy: A dynamic modelling approach


Cite

1. Bollerslev, T., Engle R., Nelson, D. (2003) in Engle, R. and McFadden, D. (Eds): ARCH Models, Handbook of Econometrics, Vol. 4, Chapter 49, pp. 2961-3031. Search in Google Scholar

2. Culbertson, W.P. 1989, Empirical Regularities in Black Markets for Currency, World Development, 17(12): 1907-1919. Search in Google Scholar

3. Dornbusch, R., D.C, Pechman, R. Rocha, and D. Simoes (1983), The Black Market for Dollars in Brazil, Quarterly Journal of Economics, 98, Feb.,, 25-40. Search in Google Scholar

4. Dumičić, M. (2019), Linkages Between Fiscal Policy and Financial (In) Stability, Journal of Central Banking Theory and Practice, vol.8, issue 1, pp. 97-109 Search in Google Scholar

5. Edwards, S.,(1989), Real Exchange Rates, Devaluation and Adjustment: Exchange Rate Policy in Developing Countries (Cambridge, Mass., MIT Press). Search in Google Scholar

6. Fishelson, Gideon (1988), The Black Market for Foreign Exchange: An International Comparison, Economics Letters 27, 1988, 67-71.10.1016/0165-1765(88)90221-2 Search in Google Scholar

7. Hannes H.; Matthias K., and Derya V., (2014), Price Dynamics in the Belarusian Black Market for Foreign Exchange, Journal of International Economics, vol.94, issue 1, pp.169-176. Search in Google Scholar

8. Haryo K., (2020), Interest Rate Policy and Exchange Rates Volatility: Lessons from Indonesia Journal of Central Banking Theory and Practice, Vol.9, issue 2, pp. 19-42 Search in Google Scholar

9. Jadgeep B. and Vegh C. (1990), Dual Exchange Markets Under Incomplet Separation: An Optimizing Model, IMF Staff Papers, Vol. 37, No.1.10.2307/3867307 Search in Google Scholar

10. Kharas, H., and Pinto, B., (1989), Exchange Rate Rules, Black Market Premia, and Fiscal Deficits: The Bolivian Hyperinflation, Review of Economic Studies, 56, 435-47.10.2307/2297557 Search in Google Scholar

11. Kant, C., (2002), What is Capital Flight?. The World Economy, Vol.25, issue 3, pages 341-358. https://doi.org/10.1111/1467-9701.0043610.1111/1467-9701.00436 Search in Google Scholar

12. Kula, F., Aslan, A. & Öztürk, Ý. (2014), Long Run Tendencies and Short Run Adjustments Between Official and Black Market Exchange Rates in MENA Countries, International Journal of Economics and Financial Issues, Econjournals, Vol. 4(3), pages 494-500. Search in Google Scholar

13. Onour, I., (2018), Technical Trading Rules and Trading Signals in the Black Market for Foreign Exchange in Sudan, Theoretical and Practical Research in Economic Field, (Volume IX, Summer 2018), 1(17): 25-31. DOI:10.14505/tpref.v9.1(17).03. Available from: http://journals.aserspublishing.eu/tpref.10.2139/ssrn.3101685 Search in Google Scholar

14. Onour, I., (2013), South Sudan Secession: Modelling the Fiscal Shock and Its Spillover Effects UNISCI Discussion Papers, Nº 33 (Octubre / October 2013).10.5209/rev_UNIS.2013.n33.44820 Search in Google Scholar

15. Phylaktis, K. (1992), The Black Market for Dollars in Chile. Journal of Development Economics, Volume 37, Issues 1-2, November 1991, pp. 155-172. Search in Google Scholar

16. Shachmurove, Y. (1999), The Premium in Black Foreign Exchange Markets: Evidence from Developing Countries. Journal of Policy Modeling Volume 21, Issue 1, January 1999, Pages 1-39. Search in Google Scholar

17. Samuel W.M., and Enrique T.H, (2008), The Black Market for Dollar in Venezuela available at: https://www.researchgate.net/publication/227454006 Search in Google Scholar

18. Veton Z., Flamur M.,, Omer I.,, Kazi S., (2021), Dynamic Impact of Banking Performance on Financial Stability: Fresh Evidence from Southeastern Europe, Journal of Central Banking Theory and Practice, vol.10, issue 1, pp. 165-181. Search in Google Scholar

eISSN:
2336-9205
Language:
English
Publication timeframe:
3 times per year
Journal Subjects:
Business and Economics, Business Management, other