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The monetary approach to understanding the balance of payments for the Fiji Islands

Narayan, Paresh, Prasad, Raymond and Prasad, Arti 2009, The monetary approach to understanding the balance of payments for the Fiji Islands, Pacific economic bulletin, vol. 24, no. 2, pp. 113-121.

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Title The monetary approach to understanding the balance of payments for the Fiji Islands
Author(s) Narayan, Paresh
Prasad, Raymond
Prasad, Arti
Journal name Pacific economic bulletin
Volume number 24
Issue number 2
Start page 113
End page 121
Publisher Asia Pacific Press
Place of publication Canberra, A.C.T.
Publication date 2009-07
ISSN 0817-8038
1834-9455
1832-6900
Summary The monetary approach to the balance of payments postulates a unidirectional, negative causality running from domestic credit to net foreign assets. Using data for Fiji for the period 1974–2003, we find a statistically significant, negative correlation between domestic credit and net foreign assets; but the Granger causality test reveals no statistical evidence of causality running from domestic credit to net foreign assets. This finding suggests that domestic credit is mainly passive and is not the central tool of monetary policy to which the balance of payments adjusts.
Language eng
Field of Research 140212 Macroeconomics (incl Monetary and Fiscal Theory)
Socio Economic Objective 910108 Monetary Policy
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2009
Copyright notice ©2009, The Australian National University
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022723

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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