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On the Stability of Money Demand in Ghana
Jihad DagherMr.Arto Kovanen
其他書名
A Bounds Testing Approach
出版International Monetary Fund, 2011-11-01
主題Business & Economics / Money & Monetary PolicyBusiness & Economics / Economics / MacroeconomicsBusiness & Economics / Foreign Exchange
ISBN146392528X9781463925284
URLhttp://books.google.com.hk/books?id=mpgYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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