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Empirical Analysis of the Money Demand Function in Sub-Saharan Africa Author info | Abstract | Publisher info | Download info | Related research | Statistics Shigeyuki Hamori () (Kobe University)
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This paper empirically analyzed the money demand function in the Sub-Saharan African region using a nonstationary panel data analysis. We conducted the analysis on 35 countries based on annual data from 1980 to 2005. The empirical results revealed that there exists a cointegrating relationship of the money demand function in the Sub-Saharan African region. In other words, there is a close relationship between the money supply and the real economy over the long term, and monitoring money supply promises to play an important role in stabilizing the level of prices in this region.
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Article provided by Economics Bulletin in its journal Economics Bulletin .
Volume (Year): 15 (2008)
Issue (Month): 4 ()
Pages: 1-15
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Handle: RePEc:ebl:ecbull:v:15:y:2008:i:4:p:1-15Contact details of provider: Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA Phone: 615-322-2920 Fax: 615-343-8495 Email: Web page: http://www.economicsbulletin.com
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Keywords: Sub-Saharan Africa ; money demand function ; monetary policy ; inflation ; Find related papers by JEL classification: O1 - Economic Development, Technological Change, and Growth - - Economic Development
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