Demand for Money in India: 1953-2003
AbstractThe demand for money, especially in the developing countries, is an important relationship for formulating appropriate monetary policy and targeting monetary variables. In this paper we estimate the demand for narrow money in India and evaluate its robustness. It is found that there is a stable demand for money for almost half a century from 1953 to 2003. There is no evidence for any significant effects of the $1991$ financial reforms.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0510002.
Length: 17 pages
Date of creation: 02 Oct 2005
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Demand for money; Developing countries; Income and interest rate elasticities; Cointegration; Financial reforms.;
Other versions of this item:
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-10-08 (All new papers)
- NEP-CBA-2005-10-08 (Central Banking)
- NEP-FMK-2005-10-08 (Financial Markets)
- NEP-HIS-2005-10-08 (Business, Economic & Financial History)
- NEP-MAC-2005-10-08 (Macroeconomics)
- NEP-MON-2005-10-08 (Monetary Economics)
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