Financial reforms and money demand: Evidence from 20 developing countries

被引：12
|
作者：
Kumar, Saten [1 ]
机构：
[1] Auckland Univ Technol, Auckland, New Zealand
来源：
ECONOMIC SYSTEMS | 2011年 / 35卷 / 03期
关键词：
Money demand; Financial reforms; Income elasticity; Interest rate elasticity; COINTEGRATION; STABILITY;
D O I：
10.1016/j.ecosys.2010.09.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The effects of financial reforms on money demand (MI) are analysed with estimates for two sets of sub-samples and two break dates for twenty developing Asian and African countries. In all cases, the magnitude of income elasticity does not change significantly when compared with sub-samples and whole sample periods. Using CUSUM and CUSUMSQ tests, we find that the demand for money functions in our selected countries are temporally stable and therefore the respective monetary authorities may target money supply as the conduct of monetary policy. (C) 2011 Elsevier B.V. All rights reserved.
引用
收藏
页码：323 / 334
页数：12
相关论文
共 50 条
  • [21] FINANCIAL INNOVATION AND MONEY DEMAND: EVIDENCE FROM SUB-SAHARAN AFRICA
    Dunne, John Paul
    Kasekende, Elizabeth
    [J]. SOUTH AFRICAN JOURNAL OF ECONOMICS, 2018, 86 (04) : 428 - 448
  • [22] Do tax reforms affect income distribution? Evidence from developing countries
    Gupta, Sanjeev
    Jalles, Joao Tovar
    [J]. ECONOMIC MODELLING, 2022, 110
  • [23] THE FUNCTIONAL FORM OF THE MONEY DEMAND EQUATION - EVIDENCE FROM SELECTED OECD COUNTRIES
    CHOWDHURY, AR
    [J]. QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 1992, 32 (03): : 16 - 30
  • [24] ECONOMIC UNCERTAINTY, MONETARY UNCERTAINTY, AND THE DEMAND FOR MONEY: EVIDENCE FROM ASIAN COUNTRIES
    Bahmani-Oskooee, Mohsen
    Xi, Dan
    [J]. AUSTRALIAN ECONOMIC PAPERS, 2014, 53 (1-2) : 16 - 28
  • [25] Does financial globalization contribute to financial development in developing countries? Evidence from Africa
    Tesega, Mekuanent
    [J]. HELIYON, 2022, 8 (10)
  • [26] The effect of financial constraints on innovation in developing countries Evidence from 11 African countries
    Ayalew, Misraku Molla
    Zhang, Xianzhi
    [J]. ASIAN REVIEW OF ACCOUNTING, 2020, 28 (03) : 273 - 308
  • [27] Financial liberalization and money demand in ASEAN countries: Implications for monetary policy
    Dekle, R
    Pradhan, M
    [J]. MACROECONOMIC ISSUES FACING ASEAN COUNTRIES, 1997, : 153 - 183
  • [28] Factors influencing fertilizer demand in developing countries: evidence from Malawi
    Mustapha, Alhaji Bukar
    Said, Rusmawati
    [J]. JOURNAL OF AGRIBUSINESS IN DEVELOPING AND EMERGING ECONOMIES, 2016, 6 (01) : 59 - 71
  • [29] Demand for Crop Insurance in Developing Countries: New Evidence from India
    Ghosh, Ranjan Kumar
    Gupta, Shweta
    Singh, Vartika
    Ward, Patrick S.
    [J]. JOURNAL OF AGRICULTURAL ECONOMICS, 2021, 72 (01) : 293 - 320
  • [30] Financial innovation and banks performance in developing countries: Evidence from Ghana
    Nyamekye, Kofi Afriyie
    Okyere, Gabriel Asare
    Owusu-Ansah, Emmanuel De-Graft Johnson
    Damoah, Obi Berko Obeng
    Quarshie, Joseph
    Asenso-Twum, Josephine
    [J]. BUSINESS STRATEGY AND DEVELOPMENT, 2023, 6 (04): : 521 - 529
12345