Arbeitspapier
Financial liberalization and long-run stability of money demand in Nigeria
A stable money demand function is essential when using monetary aggregate as a monetary policy. Thus, there is need to examine the stability of the money demand function in Nigeria after the deregulation of the financial sector. To achieve this, the study employed CUSUM (cumulative sum) and CUSUMSQ (CUSUM squared) tests after using autoregressive distributive lag bounds test to determine the existence of a long run relationship between monetary aggregate and its determinant. Results of the study show that a long-run relationship holds and that the demand for money is stable in Nigeria. In addition, the inflation rate is found to be a better proxy for an opportunity variable when compared to interest rate. The main implication of the study is that interest rate is ineffective as a monetary policy instrument in Nigeria.
- Sprache
-
Englisch
- Erschienen in
-
Series: AGDI Working Paper ; No. WP/17/018
- Klassifikation
-
Wirtschaft
Demand for Money
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- Thema
-
Stable
demand for money
bounds test
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Folarin, Oludele E.
Asongu, Simplice
- Ereignis
-
Veröffentlichung
- (wer)
-
African Governance and Development Institute (AGDI)
- (wo)
-
Yaoundé
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Folarin, Oludele E.
- Asongu, Simplice
- African Governance and Development Institute (AGDI)
Entstanden
- 2017
Ähnliche Objekte (12)
The long run stability of money in the proposed East African Monetary Union
The long run stability of money demand in the proposed West African Monetary Union
Demand-side mobile money drivers of financial inclusion: Minimum economic growth thresholds for mobile money innovations
The role of mobile characteristics on mobile money innovations
The comparative exploration of mobile money services in inclusive development
Female unemployment, mobile money innovations and doing business by females
Mobile technology supply factors and mobile money innovation: Thresholds for complementary policies
Law, mobile money drivers and mobile money innovations in developing countries
FDI in Selected Developing Countries: Evidence from Bundling and Unbundling Governance
Introduction
CO2 emission thresholds for inclusive human development in Sub-Saharan Africa
FDI in selected developing countries: Evidence from bundling and unbundling governance
The long run stability of money in the proposed East African Monetary Union
The long run stability of money demand in the proposed West African Monetary Union
Demand-side mobile money drivers of financial inclusion: Minimum economic growth thresholds for mobile money innovations
The role of mobile characteristics on mobile money innovations
The comparative exploration of mobile money services in inclusive development
Female unemployment, mobile money innovations and doing business by females
Mobile technology supply factors and mobile money innovation: Thresholds for complementary policies
Law, mobile money drivers and mobile money innovations in developing countries
FDI in Selected Developing Countries: Evidence from Bundling and Unbundling Governance
Introduction
CO2 emission thresholds for inclusive human development in Sub-Saharan Africa
FDI in selected developing countries: Evidence from bundling and unbundling governance
The long run stability of money in the proposed East African Monetary Union
The long run stability of money demand in the proposed West African Monetary Union
Demand-side mobile money drivers of financial inclusion: Minimum economic growth thresholds for mobile money innovations
The role of mobile characteristics on mobile money innovations
The comparative exploration of mobile money services in inclusive development
Female unemployment, mobile money innovations and doing business by females
Mobile technology supply factors and mobile money innovation: Thresholds for complementary policies
Law, mobile money drivers and mobile money innovations in developing countries
FDI in Selected Developing Countries: Evidence from Bundling and Unbundling Governance
Introduction
CO2 emission thresholds for inclusive human development in Sub-Saharan Africa