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Governance Quality Influence on the Volume of Money in Selected Countries
Parvaneh Salatin, Tahereh Jahani
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DOI:10.17265/1537-1514/2014.07.003
Parvaneh Salatin, manager of economic group Islamic Azad University E-Campus, Faculty of Humanities, Department of Economics, Tehran, Iran.
Tahereh Jahani, Department of Economics, Payame Noor University (PUN), Tehran, Iran.
The main purpose of this paper is to examine the effectiveness of governance quality on the volume of money in the group of selected countries with middle-income1 through using panel data. This paper adopts Random Effects model and Generalized Method of Moments (GMM) as its methodology. Furthermore, the most important factors influencing on the volume of money in the group of selected countries with middle-income have been identified by econometric method. The results of the estimation method with Random Effects and GMM models show that the governance quality has a significant negative effect on the changes of the volume of money in the group of selected countries with middle-income from 1996 to 2009. It is worth considering that the quality of governance in most of these countries lies within the lower level.
good governance, volume of money, middle-income
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