The long-run relation between a black market exchange rate and the trade balance: Evidence from Iran

This paper investigates the long-run relationship between Iranian trade balance and the black market value of Iranian rial by employing cointegration technique. It is shown that in a oil producing country like Iran due to rent-seeking opportunities, depreciation of the rial in the black market has an adverse effect on the Iranian trade balance.

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Year of publication:	1999
Authors:	Bahmani-Oskooee, Mohsen
Published in:	Journal of Economic Studies. - Emerald Group Publishing. - Vol. 26.1999, January, 2, p. 121-129
Publisher:	Emerald Group Publishing
Subject:	Black market \| Cointegration \| Exchange rates \| Iran

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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