کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9553550 | 1375471 | 2005 | 13 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Money demand and financial liberalization in Indonesia
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper offers a new strategy to investigate the effects of financial liberalization on the demand for money. This strategy explicitly accounts for the impact of financial liberalization by including a proxy for this process in the money demand equation. The long-run demand for money is estimated using the procedure developed in [Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics 16, 289-326]. This procedure represents an alternative to standard cointegration tests, which we argue may be inappropriate in the presence of financial liberalization. Focusing on Indonesia, we find that financial liberalization plays a key role in determining money demand and its fluctuations.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Asian Economics - Volume 16, Issue 5, October 2005, Pages 817-829
Journal: Journal of Asian Economics - Volume 16, Issue 5, October 2005, Pages 817-829
نویسندگان
Gregory A. James,