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Capital inflows and the demand for money in South Asian countries

Author

Listed:
  • Siddiki, Jalal Uddin

    () (Kingston University London)

  • Morrissey, Oliver

    () (The University of Nottingham)

Abstract

The aim of this paper is to estimate the real demand for money in three South Asian countries - Bangladesh, India and Pakistan - allowing for the possible effect of foreign exchange inflows (which have tended to increase in recent years). As identifying the stability of estimated elasticities is an important concern, we employ cointegration analyses allowing for structural breaks.

Suggested Citation

  • Siddiki, Jalal Uddin & Morrissey, Oliver, 2006. "Capital inflows and the demand for money in South Asian countries," Economics Discussion Papers 2006-4, School of Economics, Kingston University London.
    • Handle: RePEc:ris:kngedp:2006_004
    as

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    File URL: http://eprints.kingston.ac.uk/1630/1/Siddiki-J-1630.pdf
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    References listed on IDEAS

    as
    1. Neil R. Ericsson, 1998. "Empirical modeling of money demand," Empirical Economics, Springer, vol. 23(3), pages 295-315.
    2. Daly V. & Siddiki J., 2001. "An Empirical Growth Model for India: 1954-1994," European Research Studies Journal, European Research Studies Journal, vol. 0(3-4), pages 141-154, July - De.
    3. Phillips, P C B, 1987. "Time Series Regression with a Unit Root," Econometrica, Econometric Society, vol. 55(2), pages 277-301, March.
    4. Renu Kohli & Kenneth Kletzer, 2001. "Financial Repression and Exchange Rate Management in Developing Countries; Theory and Empirical Evidence for India," IMF Working Papers 01/103, International Monetary Fund.
    5. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    6. Judd, John P & Scadding, John L, 1982. "The Search for a Stable Money Demand Function: A Survey of the Post-1973 Literature," Journal of Economic Literature, American Economic Association, vol. 20(3), pages 993-1023, September.
    7. Jalal U. Siddiki, 2000. "Black market exchange rates in India: an empirical analysis," Empirical Economics, Springer, vol. 25(2), pages 297-313.
    8. Vijay Joshi & Sanjeev Sanyal, 2004. "Foreign Inflows and Macroeconomic Policy in India," India Policy Forum, Global Economy and Development Program, The Brookings Institution, vol. 1(1), pages 135-188.
    9. Phillips, P C B, 1987. "Time Series Regression with a Unit Root," Econometrica, Econometric Society, vol. 55(2), pages 277-301, March.
    10. John L. Scadding & John P. Judd, 1982. "The search for a stable money demand function: a survey of the post- 1973 literature," Working Papers in Applied Economic Theory 109, Federal Reserve Bank of San Francisco, revised 1982.
    11. Jalal Siddiki, 2000. "Demand for money in Bangladesh: a cointegration analysis," Applied Economics, Taylor & Francis Journals, vol. 32(15), pages 1977-1984.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Money Demand; South Asia; Cointegration and Structural Breaks;

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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