Evidence on the demand for money function in Uganda
AbstractThe paper provides an empirical analysis of the demand for money function in Uganda. It argues that monetary policy: based on monetarist views of the dynamics of a less developed economy is, to say the least, ineffective in regulating the economy. An error correction model is used to examine the character of the demand for money – in particular if it is stable in order for traditional monetary policy to be effective. The evidence on Uganda suggests that the demand for money function is unstable and hence, monetary policy needs to be used in conjunction with other policies to achieve the goal of economic stabilisation and adjustment.
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Bibliographic InfoPaper provided by EconWPA in its series Development and Comp Systems with number 0210005.
Date of creation: 30 Oct 2002
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Error correction mechanism; demand for money; monetary policy; development policy in Uganda;
Find related papers by JEL classification:
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
This paper has been announced in the following NEP Reports:
- NEP-AFR-2002-11-04 (Africa)
- NEP-ALL-2002-11-04 (All new papers)
- NEP-CBA-2002-11-04 (Central Banking)
- NEP-MON-2002-10-27 (Monetary Economics)
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