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Financial liberalization and money demand in the ASEAN countries

✍ Scribed by Robert Dekle; Mahmood Pradhan

Publisher
John Wiley and Sons
Year
1999
Tongue
English
Weight
150 KB
Volume
4
Category
Article
ISSN
1076-9307

No coin nor oath required. For personal study only.

✦ Synopsis

We estimate long-run money demand equations for the ASEAN-4 countries (Indonesia, Malaysia, Singapore, and Thailand) and evaluate whether the equations are cointegrated. Despite the substantial financial liberalization that has taken place in these countries, we find that the money demand equations are cointegrated. In sum, our results show that provided that the monetary authorities know the shape of these money demand equations, a policy framework aimed around monetary targets can be implemented.

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