Is Broad Money Endogenous in India? Hypothese and Some Evidence
AbstractA new specification of the supply function of commercial bank credit is employed to examine the degree of endogeneity of broad money, and its response to certain structural variables in the Indian context. The specification allows us to avoid the identification problems that occur in a single equation format, and gives insights on the money supply process in India. The paper finds that broad money responds to the demand for speculative credit.
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Bibliographic InfoPaper provided by Indira Gandhi Institute of Development Research- in its series Papers with number 130.
Length: 24 pages
Date of creation: 1996
Date of revision:
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Postal: INDIRA GANDHI; INDIRA GANDHI INSTITUTE OF DEVELOPMENT RESEARCH, GEN.VAIDYA MARG.GOREGAON (E) BOMBAY-400 065 INDIA.
Phone: (022) 840 0919/20/21
Fax: (022) 840 2752/2026
Web page: http://www.igidr.ac.in/
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INDIA ; MONEY ; BANKS ; CREDIT;
Find related papers by JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
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