The Determinants and Stability of Real Money Demand in Vietnam, 1999-2009
Understanding the money demand function is highly important for monetary policy implementation, especially in a monetary targeting framework. The paper uses cointegration analysis and a reduced-form short-run error correction model to investigate the demand for money in Vietnam between 1999 and 2009. We find evidence for a cointegrating relationship between the real money demand, income, the foreign interest rate, and the real stock price. More importantly, statistical tests show that real money demand in Vietnam is stable in this period.
|Date of creation:||Sep 2010|
|Contact details of provider:|| Postal: 7-22-1 Roppongi, Minato-ku, Tokyo, Japan 106-8677|
Web page: http://www.grips.ac.jp/r-center/en/discussion_papers/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dario Cziráky & Max Gillman, 2006.
"Money Demand in an EU Accession Country: A VECM Study of Croatia,"
Bulletin of Economic Research,
Wiley Blackwell, vol. 58(2), pages 105-127, 04.
- Gillman, Max & Cziráky, Dario, 2005. "Money Demand in an EU Accession Country: A VECM Study of Croatia," Cardiff Economics Working Papers E2005/7, Cardiff University, Cardiff Business School, Economics Section.
- Abdul Qayyum, 2005. "Modelling the Demand for Money in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(3), pages 233-252.
- Qayyum, Abdul, 2005. "Modelling the Demand for Money in Pakistan," MPRA Paper 2057, University Library of Munich, Germany, revised 2005.
- Daniel L. Thornton, 1983. "Why does velocity matter?," Review, Federal Reserve Bank of St. Louis, issue Dec, pages 5-13. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:ngi:dpaper:10-14. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.