Investigating the Stability of Money Demand in Ghana

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43909240" target="_blank" >RIV/62156489:43110/16:43909240 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.1016/j.sbspro.2016.05.501" target="_blank" >http://dx.doi.org/10.1016/j.sbspro.2016.05.501</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.sbspro.2016.05.501" target="_blank" >10.1016/j.sbspro.2016.05.501</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Investigating the Stability of Money Demand in Ghana

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Investigating the Stability of Money Demand in Ghana

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

—

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Procedia - Social and Behavioral Sciences

ISBN

—

ISSN

1877-0428

e-ISSN

—

Počet stran výsledku

6

Strana od-do

288-293

Název nakladatele

Elsevier Science BV

Místo vydání

Amsterdam

Místo konání akce

Brno

Datum konání akce

10. 3. 2016

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000386948700034