Demand for Money By Business Sector in a Developing Country: Evidence from Pakistan
The paper provides estimate of money (M2) demand for business sector in Pakistan. By using cointegartion analysis and erropr correction mechanism the study found that business sectors money demand behaviour is completely different from the aggregate money demand function. The rate of interest on advances is important determinent of money demand by the business sector.
|Date of creation:||1999|
|Date of revision:||0199|
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Web page: http://mpra.ub.uni-muenchen.de
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- Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- Jain, Parul & Moon, Choon-Geol, 1994. "Sectoral Money Demand: A Co-integration Approach," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 196-202, February.
- Johansen, S., 1991.
"Testing Weak Exogeneity and the Order of Cointegration in UK Money Demand Data,"
78, Helsinki - Department of Economics.
- Johansen, Soren, 1992. "Testing weak exogeneity and the order of cointegration in UK money demand data," Journal of Policy Modeling, Elsevier, vol. 14(3), pages 313-334, June.
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