Investigating the Stability of Money Demand in Ghana
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43910656" target="_blank" >RIV/62156489:43110/16:43910656 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.11118/actaun201664062075" target="_blank" >http://dx.doi.org/10.11118/actaun201664062075</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.11118/actaun201664062075" target="_blank" >10.11118/actaun201664062075</a>
Alternative languages
Result language
angličtina
Original language name
Investigating the Stability of Money Demand in Ghana
Original language description
The study examined the demand for broad money and its stability in Ghana. Johansen's cointegration approach reveals that the variables were non stationary and cointegrated, therefore, an error correction model, ECM was used to determine the factors that influence real money aggregate in Ghana from 1990 to 2014. The study estimated the results using two set of variables for real demand for money: M1 and M2+. This was done given the assumption that the demand for money was equal to the supply of money. The results show that, GDP affects the level of demand for money in the long run while the interest rate affects it in the short run. The error correction term in each of the cases shows that, 18 % of deviations in the real demand for money is corrected annually. The CUSUM tests of parameter stability showed that, the money demand function was stable over the period and the Chow test indicated that there were no structural breaks.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
BB - Applied statistics, operational research
OECD FORD branch
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Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
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Volume of the periodical
64
Issue of the periodical within the volume
6
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
5
Pages from-to
2075-2079
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85008681218