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The Demand for Money in Pakistan.Some Alternative Estimates

Author

Listed:
  • SHIGEYUKI ABE

    (University or"Hawaii, U.S.A.)

  • MAXWELL J. FRY

    (University or"Hawaii, U.S.A.)

  • BYOUNG K. MIN

    (University or"Hawaii, U.S.A.)

  • PAlROJ VONGVIPANOND

    (University or"Hawaii, U.S.A.)

  • TEH-PEI Yu

    (University or"Hawaii, U.S.A.)

Abstract

In a recent article in this Review, Akhtar [2] presented 30 estiO.ates of demand or money functions in Pakistan. One of the purposes of Akhtar's study was to est two alternative theories, "the modern quantity theory of money and what JUay ,lie called the 'accumulating capital' framework" [2, p. 40). We have examined Akhtar's estimates and have serious reservations concerning the validity of his results. In the present paper, therefore, we raise several criticisms against Akhtar's study and then offer alternative estimates of demand for money in Pakistan.

Suggested Citation

  • SHIGEYUKI ABE & MAXWELL J. FRY & BYOUNG K. MIN & PAlROJ VONGVIPANOND & TEH-PEI Yu, 1975. "The Demand for Money in Pakistan.Some Alternative Estimates," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 14(2), pages 249-257.
    • Handle: RePEc:pid:journl:v:14:y:1975:i:2:p:249-257
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    Cited by:

    1. Adnan Haider & Asad Jan & Kalim Hyder, 2013. "On the (Ir)Relevance of Monetary Aggregate Targeting in Pakistan: An Eclectic View," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 18(2), pages 65-119, July-Dec.
    2. Zia M. Qureshi, 1981. "Household Saving in Pakistan: Some Findings from Time-Series Data," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 20(4), pages 375-397.

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