The Demand for Money in Developing Countries : Assessing the Role of Financial innovation

Assessing the Role of Financial innovation

The Demand for Money in Developing Countries : Assessing the Role of Financial innovation
Traditional specifications of money demand have been commonly plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. This paper argues that some of those problems stem from the failure to account for the impact of financial innovation. We estimate money demand for ten developing countries... READ MORE...

Publication date: May 1991
ISBN 9781451974218
$15.00

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