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Is money multiplier relevant in a small, open economy: empirical evidence from Fiji

Jayaraman, Tiruvalangadu K. and Ward, B.D. (2004) Is money multiplier relevant in a small, open economy: empirical evidence from Fiji. Pacific Economic Bulletin, 19 (2). pp. 48-53. ISSN 0817-8038

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Abstract

This paper examines the relationship between monetary aggregate and monetary base in Fiji. It is established that conventional money multiplier analysis is not valid in the case of a small, open economy with a fixed exchange rate regime. This result is no different from the one reached by studies in similarly placed countries in other regions. Thus, the money multiplier appears to be of no policy relevance for small island economies in the Pacific.

Item Type: Journal Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Neha Harakh
Date Deposited: 01 May 2004 21:32
Last Modified: 03 May 2012 20:45
URI: http://repository.usp.ac.fj/id/eprint/3100
UNSPECIFIED

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