Demand for money in developing countries : alternative estimates and policy implications / Saten Kumar.

Includes bibliographical references and index.

Print version record.

DEMAND FOR MONEY IN DEVELOPING COUNTRIES: ALTERNATIVE ESTIMATES AND POLICY IMPLICATIONS; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: INTRODUCTION; Chapter 2: IMPORTANCE OF DEMAND FOR MONEY; 2.1. INTRODUCTION; 2.2. THEORIES OF DEMAND FOR MONEY; 2.3. MONETARY POLICY TARGETS AND INSTRUMENTS; 2.4. FINANCIAL REFORMS AND INSTABILITY IN THE MONEY DEMAND; CONCLUSION; Chapter 3: EMPIRICAL LITERATURE; 3.1. INTRODUCTION; 3.2. INCOME ELASTICITY OF MONEY DEMAND IN INDUSTRIAL COUNTRIES; 3.3. INCOME ELASTICITY OF MONEY DEMAND IN DEVELOPING COUNTRIES; CONCLUSIONS.

Chapter 4: EMPIRICAL RESULTS4.1. INTRODUCTION; 4.2. MODEL AND DATA; 4.3. ALTERNATIVE EMPIRICAL ESTIMATES; CONCLUSIONS AND POLICY IMPLICATIONS; Chapter 5: CONCLUSIONS AND LIMITATIONS; 5.1. CONCLUSIONS; 5.2. LIMITATIONS; REFERENCES; APPENDICES; A. DEFINITION OF VARIABLES; B. UNIT ROOT TESTS; C. JML IDENTIFICATION AND EXOGENEITY TESTS; D. JML STABILITY TESTS; AUTHOR CONTACT INFORMATION; INDEX.

This publication presents some empirical analysis on the demand for money. It covers a wide range of papers on econometric techniques and on previous empirical work on money demand. Further, it presents estimates of a common specification of money demand across a range of developing countries. One of the interesting contributions of the book is to give more serious attention to developing economies and to more recent empirical studies than previous studies had done. Studies on the demand for money and its stability are very crucial because it has implications for the monetary policy of a count.

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