On the Stability of Money Demand in Ghana : A Bounds Testing Approach /

This paper adopts the bounds testing procedure developed by Pesaran and others (2001) to test the stability of the long-run money demand for Ghana. The results provide strong evidence for the presence of a stable, well-identified long-run money demand during a period of substantial changes in the fi...

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Bibliografiske detaljer
Hovedforfatter: Kovanen, Arto
Andre forfattere: Dagher, Jihad
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2011.
Serier:IMF Working Papers; Working Paper ; No. 2011/273
Online adgang:Full text available on IMF
Beskrivelse
Summary:This paper adopts the bounds testing procedure developed by Pesaran and others (2001) to test the stability of the long-run money demand for Ghana. The results provide strong evidence for the presence of a stable, well-identified long-run money demand during a period of substantial changes in the financial markets. The empirical evidence points to complex dynamics between money demand and its determinants while suggesting that deviations from the equilibrium are rather short-lived.1.
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Fysisk beskrivelse:1 online resource (18 pages)
Format:Mode of access: Internet
ISSN:1018-5941
Adgang:Electronic access restricted to authorized BRAC University faculty, staff and students