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Friday, July 24, 2020 | History

2 edition of error correction approach to demand for money in five African developing countries found in the catalog.

error correction approach to demand for money in five African developing countries

Robert Simmons

error correction approach to demand for money in five African developing countries

by Robert Simmons

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  • 37 Currently reading

Published by University of Salford Department of Economics in Salford .
Written in English


Edition Notes

StatementRobert Simmons.
SeriesSalford papers in economics -- no.13, Economics discussion paper(University of Salford, Departmentof Economics) -- no.13.
ID Numbers
Open LibraryOL13968918M

Demand for Money in Nepal: An ARDL Bounds Testing Approach 25 estimating the money demand function for Mr 2. Because of the unavailability of data on the weighted interest rate on saving deposits, the interest rate is calculated by taking the average of minimum and . Error-correction mechanism tests for cointegration in a single-equation framework. Maximum likelihood estimation and inference on cointegration—with applications to the demand for money. Wagner’s law in developing countries.

It is found that “in some of the poorest DVCs (Developing Countries), rapid population growth actually strains the levels of income growth so severely that per capita income remains stagnant” (Brue, Flynn, and McConnell 39W-5). Not only that, a principal issue for the developing nations is still poverty. The Bank's members now include all African countries other than South Africa and 25 non-regional members. A list of the major contributors is shown in Table 1. Lending Trends The resources of the Fund and the Bank have risen sharply since (see Table 2). By the Bank had raised a total of USS 5,m on the world capital markets in addition.

This approach takes into account a number of potential sources of the recent surge in inflation, including excess money supply, exchange rates, food and non-food world prices, world energy prices and domestic agricultural supply shocks. 4. Characteristics and Institutions of Developing Countries (pp. ) 5. Theories of Economic Development (pp. , ) PART II POVERTY ALLEVIATION AND INCOME DISTRIBUTION. 6. Poverty, Malnutrition, and Income Inequality (pp. , ) 7. Rural Poverty and Agricultural Transformation (pp. , ) PART III FACTORS.


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Error correction approach to demand for money in five African developing countries by Robert Simmons Download PDF EPUB FB2

Applies an error‐correction model to demand for money in five African economies: Congo, Côte d′Ivoire, Mauritius, Morocco and Tunisia.

Attention is given to a set of opportunity cost variables including expected inflation, domestic interest rate, foreign interest rate and expected exchange‐rate by: Robert Simmons, An Error‐correction Approach to Demand for Money in Five African Developing Countries, Journal of Economic Studies, 19, 1, ().

Crossref James M. Boughton, International comparisons of money demand, Open Economies Review, /BF, 3, Cited by:   R. SimmonsAn error-correction approach to demand for money in five African developing countries Journal of Economic Studies, 19 (), pp.

Google ScholarCited by: For example, some studies analyze the behavior of money demand function and its stability on industrial countries (Bahmani-Oskooee and Chomsisengphet, ), Asian countries (Bahmani-Oskooee and.

– Studies that have addressed the stability of the demand for money in African countries are rare. A few papers have addressed the issue in a small number of individual countries.

For cross‐country comparison, this paper aims to investigate the stability of the M2 demand for money in 21 African countries using quarterly data over the period Q1‐Q3., – A standard money demand Cited by: (). An error-correction approach to demand for money in five African developing countries.

Another look at long-run money demand. Capital mobility and stabilisation policy under fixed and flexible exchange rates.

Demand for money in Asia. Demand for money in developing countries: some theoretical and empirical results. The issue as to whether the interest rate influences the demand for money in developing countries is still controversial. The aim of this study is to attempt to resolve this controversy.

The error-correction models (ECMs) have shown to meet these criteria. This paper surveys a selected number of papers that applied the ECM approach to analyze the demand for money (of various definitions) during the s in several industrial and developing countries.1 The objective is to extract.

AFRICA’S 1 MACROECONOMIC PERFORMANCE AND PROSPECTS KEY MESSAGES T his chapter reviews Africa’s economic performance in and presents forecasts of GDP growth for – It analyzes growth outcomes and discusses some of the macroeconomic shocks and vulnerabilities African countries face and how they have affected development financing.

() investigated the demand for narrow money for five African countries (Democratic Republic of the Congo, Cote d’Ivoire, Mauritius, Morocco and Tunisia) within an ECM framework. This study emphasizes the role of opportunity cost variables including the domestic interest rate and expected exchange- rate depreciation.

His empi. Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online. Easily share your publications and get them in front of Issuu’s. The demand for money in developing countries: assessing the role of financial innovation (English) Abstract.

Traditional specifications of money demand have commonly been plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. An error-correction approach to demand for money in five African developing countries, ().

Another look at long-run money demand, (). Demand for money plays a major role in macroeconomic analysis, especially in selecting appropriate monetary policy.

Consequently, considerable theoretical and empirical work has been undertaken worldwide to analyze the determinants and stability of money demand. Panel (1) shows the demand function for mobile money balances (savings), and panel (2) presents the demand function for mobile money transactions (transfers).

The results indicated that, as expected, both real mobile money balances and the volume of transactions were negatively affected by interest rates and positively associated with economic.

Simmons, Robert () “An Error Correction Approach to Demand for Money in Five African Developing Countries.” Journal of Economic Studies – FDI among other channels by multinational corporations (MNCs) is considered to be a major channel for access to advanced technologies by developing countries.

This study examines foreign direct investment, human capital development and economic growth in Nigeria within a cointegration and error-correction modelling (ECM) framework during the period ().

1. Introduction. In most SSA countries, the bank-dominated financial sectors are in a developing stage. Supported by reform efforts, the depth and coverage of financial systems has been gradually increasing over the past decade, but still remains at low level (Kasekende et al., ).As EIB () highlights, the scale of financial intermediation in the region remains significantly lower than.

African countries. Keywords: Corruption, economic growth, income distribution, dynamic panel estimator, Africa JEL Classification: O11, O55, K42 1 Introduction Poverty, slow economic growth, and unequal income and wealth distribution are endemic in African countries.

Indeed, Africa has made the least progress in im. Mohsen Bahmani-Oskooee & Michael P. Barry, "Stability of the Demand for Money in an Unstable Country: Russia," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol.

22(4), pagesJuly. Mohsen Bahmani-Oskooee & Abera Gelan, "How stable is the demand for money in African countries?. With member countries, staff from more than countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.exogenous component of money demand.

This result, which allows a key role for expectations concerning future money supply and money demand behavior in determining the current exchange rate, is contrasted with simple monetary models that focus on current money supplies and current money demands as the determinants of exchange rates.The difficulties experienced by some African countries in settling their external payments have become a matter of considerable concern, both to the countries themselves as well as to the regional and international institutions concerned with economic and financial development.

More and more countries are plagued by these difficulties, while the difficulties themselves continue to multiply.