MONEY DEMAND IN AN INTEREST FREE ECONOMY

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

ESMAILI FATEMEH; SADR SEYED KAZEM; NOFERESTI MOHAMMAD

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: Journal of Economic Research Year:2012 | Volume:47 | Issue:98 Page(s): 129-151

Download Full-Text

Persian Verion

View:

1,150

Download:

Cites:

Information Journal Paper

Title

MONEY DEMAND IN AN INTEREST FREE ECONOMY

Author(s)

ESMAILI FATEMEH | SADR SEYED KAZEM | NOFERESTI MOHAMMAD | Issue Writer Certificate

Keywords

MONEY DEMANDQ2

SPECULATIVE DEMANDQ2

FINANCIAL ASSETS MARKETQ2

ISLAMIC FINANCEQ2

Abstract

The objective of this study is to derive a MONEY DEMAND function compatible with the Islamic Economic Rules, i.e., Prohibition of Reba. This rule evidently eliminates the loan market from the economy. Therefore, we propose that the Islamic financial markets could link the real and nominal sectors of the economy and provide the information needed by both the financial intermediaries and the Central Bank authorities to allocate financial and liquid assets, respectively. Meanwhile, the natures of speculative activities are discussed.And conditions that facilitate harmful speculative activities are identified and the policies that are required to eliminate those conditions are proposed. Based on this financial market model, both demand for and supplies of financial resources as well as demand for money balances are derived. This demand for money balance is formulated as a function of rate of return of shares exchanged in the stock market, real GDP, and inflation rate. The estimation result of this function using the cointegrated maximum likelihood Johanson-Josilious method shows that the demand for money is a stable and significant function of the above mentioned variables.Specifically, the logarithm of the MONEY DEMANDed (m1) is a significant and negative function of dividend’s rate of return, but positive and significant function of real GDP and inflation rate.

Cites

No record.

References

Cite

APA: Copy

ESMAILI, FATEMEH, SADR, SEYED KAZEM, & NOFERESTI, MOHAMMAD. (2012). MONEY DEMAND IN AN INTEREST FREE ECONOMY. TAHGHIGHAT-E-EGHTESADI, 47(98), 129-151. SID. https://sid.ir/paper/11944/en

Vancouver: Copy

ESMAILI FATEMEH, SADR SEYED KAZEM, NOFERESTI MOHAMMAD. MONEY DEMAND IN AN INTEREST FREE ECONOMY. TAHGHIGHAT-E-EGHTESADI[Internet]. 2012;47(98):129-151. Available from: https://sid.ir/paper/11944/en

IEEE: Copy

FATEMEH ESMAILI, SEYED KAZEM SADR, and MOHAMMAD NOFERESTI, “MONEY DEMAND IN AN INTEREST FREE ECONOMY,” TAHGHIGHAT-E-EGHTESADI, vol. 47, no. 98, pp. 129–151, 2012, [Online]. Available: https://sid.ir/paper/11944/en

Related Journal Papers