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On the stability of money demand in Ghana : a bounds testing approach

Author: Jihad Dagher; Arto Kovanen; International Monetary Fund. African Department,
Publisher: [Washington, D.C.] : International Monetary Fund, ©2011.
Series: IMF working paper, WP/11/273.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Database:WorldCat
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  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Kovanen, Arto.
On the Stability of Money Demand in Ghana: A Bounds Testing Approach.
Washington : International Monetary Fund, ©2011
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Jihad Dagher; Arto Kovanen; International Monetary Fund. African Department,
ISBN: 9781463956691 146395669X
OCLC Number: 769816427
Notes: At head of title: African Department.
Title from PDF title page (IMF Web site, viewed December 29, 2011).
"November 2011."
Description: 1 online resource (19 pages).
Contents: Cover Page; Title Page; Copyright Page; I. Introduction; II. The Model; III. Empirical Analysis; VI. Conclusions; References; Footnotes.
Series Title: IMF working paper, WP/11/273.
Responsibility: Jihad Dagher and Arto Kovanen.

Abstract:

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.

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