01772cas a2200241 a 4500 AALejournalIMF007748 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451974898 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Currency Substitution in Egypt and the Yemen Arab Republic : A Comparative Quantitative Analysis. Washington, D.C. : International Monetary Fund, 1987. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper provides an empirical analysis of the determinants of currency substitution in Egypt and the Yemen Arab Republic over the period 1980-86. During this period, residents have exhibited a marked preference to substitute foreign money balances for domestic balances, as indicated by their holdings of foreign currency deposits. This preference reflects changes in the expected relative returns to, and liquidity of, holdings of foreign balances. Such changes, in turn, are shown to result from intensified financial and economic imbalances, increased political uncertainties, and changes in institutional factors which affect domestic channels for acquiring and using foreign exchange resources. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1987/043 Full text available on IMF http://elibrary.imf.org/view/journals/001/1987/043/001.1987.issue-043-en.xml IMF e-Library