IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/1998-057.html
   My bibliography  Save this paper

Money Demand and Regional Monetary Policy in the West African Economic and Monetary Union

Author

Listed:
  • Mr. Philipp C Rother

Abstract

Regional monetary integration, financial liberalization, and the adoption of indirect policy instruments have changed the conditions for monetary policy in the West African Economic and Monetary Union (WAEMU). The stability of money demand has become a crucial element for monetary policy. This paper presents empirical money demand estimations for regional monetary aggregates and analyzes their stability and forecast performance. The estimations result in a stable relationship for narrow money (M1). Consequently, the region’;s central bank, the BCEAO, can continue to conduct monetary policy in line with the fixed exchange rate system if it succeeds in maintaining financial stability.

Suggested Citation

  • Mr. Philipp C Rother, 1998. "Money Demand and Regional Monetary Policy in the West African Economic and Monetary Union," IMF Working Papers 1998/057, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1998/057
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2572
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Paweł Młodkowski, 2008. "Integracja monetarna i zarządzanie rezerwami walutowymi," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 73-95.
    2. Mustapha Abiodun Akinkunmi, . "Money Demand in Developing Countries: A Dynamic Panel Approach," Fordham Economics Dissertations, Fordham University, Department of Economics, number 2004.1.
    3. Kablan, Sandrine, 2003. "Analyse de la demande de crédit du secteur privé dans l’UEMOA : [Credit demand for the private sector in WAEMU]," MPRA Paper 41318, University Library of Munich, Germany, revised 28 Sep 2003.
    4. John Serieux, 2008. "Financial Liberalization and Domestic Resource Mobilization in Africa: an Assessment," Working Papers 45, International Policy Centre for Inclusive Growth.
    5. Stephen Dobson & Carlyn Ramlogan, 2001. "Money Demand and Economic Liberalization in a Small Open Economy—Trinidad and Tobago," Open Economies Review, Springer, vol. 12(3), pages 325-339, July.
    6. Fakhri J. Hasanov & Moayad H. Al Rasasi & Salah S. Alsayaary & Ziyadh Alfawzan, 2022. "Money demand under a fixed exchange rate regime: the case of Saudi Arabia," Journal of Applied Economics, Taylor & Francis Journals, vol. 25(1), pages 385-411, December.
    7. Samih Antoine Azar & Fadi Asrawi & Emad Gharzuddine, 2017. "Economic Integration in the Six Middle Eastern Gulf Countries: A Look from the Perspective of Money Demand," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 16(3), pages 189-218, December.

    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:imf:imfwpa:1998/057. 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: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    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.