An Error Correction Approach to the Demand for Money in Ghana
| dc.contributor.advisor | Kambou, Gerard (Dr.) | |
| dc.contributor.author | Daniel, Charles | |
| dc.date.accessioned | 2021-07-24T14:01:38Z | |
| dc.date.accessioned | 2023-11-04T10:30:11Z | |
| dc.date.available | 2021-07-24T14:01:38Z | |
| dc.date.available | 2023-11-04T10:30:11Z | |
| dc.date.issued | 1997-06 | |
| dc.description.abstract | Studies of money demand in Ghana have, more often than not, neglected testing for its stability although a stable money demand function is necessary for the effectiveness of monetary policy. Furthermore, attention has not been paid to the order of integration of the variables in the estimated money demand function . Most of these studies did not use the newly developed error correction techniques to avoid running spurious regressions. This Thesis improves on these limitations. It uses co integration and error correction models to analyses the determinants of the demand for money. The results indicate that (i) the money demand function in Ghana was stable over the period of study (1969-1995); (ii) the money demand series is an I(1) process; (iii) that both definitions of money (Ml & M2) are stable; and (iv) that current income, domestic interest rate, foreign interest rate and financial liberalization were the main determinants of money demand. | en_US |
| dc.identifier.uri | http://etd.aau.edu.et/handle/123456789/27342 | |
| dc.language.iso | en | en_US |
| dc.publisher | A.A.U | en_US |
| dc.subject | Demand for Money in Ghana | en_US |
| dc.title | An Error Correction Approach to the Demand for Money in Ghana | en_US |
| dc.type | Thesis | en_US |