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

This paper adopts the bounds testing procedure developed by Pesaran et al. (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 financ...

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Bibliographic Details
Main Author: Kovanen, Arto
Other Authors: Dagher, Jihad
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2011
Series:IMF Working Papers
Subjects:
Personal Income, Wealth, And Their Distributions
Currency
Macroeconomics
Banks
Nominal Effective Exchange Rate
Income
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Money
Financial Services
Banking
Monetary Base
Money Supply
Demand For Money
Bank Deposits
Money And Monetary Policy
National Accounts
Banks And Banking
Foreign Exchange
Depository Institutions
Monetary Economics
Personal Income
Micro Finance Institutions
Mortgages
Ghana
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper adopts the bounds testing procedure developed by Pesaran et al. (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
Physical Description:18 pages
ISBN:9781463925284

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