IDEAS home Printed from https://ideas.repec.org/a/mes/eaeuec/v56y2018i5p334-357.html
   My bibliography  Save this article

Determinants of the Demand for Money in CEE Countries: Updated Evidence

Author

Listed:
  • Valentina-Ioana Mera
  • Monica Ioana Pop Silaghi

Abstract

This article empirically models the relationship between the demand for money and a set of determinants, using the autoregressive distributed lag (ARDL) bounds-testing approach proposed by Pesaran, Shin, and Smith. We test this relationship in a country-specific framework of six Central and East European countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, and Romania) over the past twenty years. The results confirm the existence of a long-term cointegration relationship between the demand for money and its determinants, except in Bulgaria and Croatia. We identified a significant currency substitution effect in Bulgaria, Croatia, and Hungary, whereas in the Czech Republic, the wealth effect is stronger.

Suggested Citation

  • Valentina-Ioana Mera & Monica Ioana Pop Silaghi, 2018. "Determinants of the Demand for Money in CEE Countries: Updated Evidence," Eastern European Economics, Taylor & Francis Journals, vol. 56(5), pages 334-357, September.
    • Handle: RePEc:mes:eaeuec:v:56:y:2018:i:5:p:334-357
    DOI: 10.1080/00128775.2018.1496458
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00128775.2018.1496458
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00128775.2018.1496458?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:eaeuec:v:56:y:2018:i:5:p:334-357. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MEEE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.