1 - 10 of 21 articles
This paper investigates whether there exists a stationary long-run equilibrium relationship between real money balances, real income, inflation and expected depreciation in Tanzania which can be identified as a money demand function. As the institutional and regulatory framework in Tanzania has...
During the 1980s the potential instability of Zimbabwe's unsustainably high budget deficit was reduced by the smooth transfer of resources from the private to the public sector via the domestic financial system, which affected private demand for financial assets. Import, exchange and price...
This paper investigates the recent macroeconomic history of Uganda using time series models for the demand for the three main monetary aggregates. A collapse of income and high inflation led to de-monetisation. The flight from currency and demand deposits was limited by their use for...
This paper analyses the evolution of demand for bank deposits in Côte d'Ivoire over a period including the CFA Franc devaluation in 1994. Once we have allowed for smooth transitions in the deterministic component of the demand function, the estimated relationship between deposits and income and...
Regional monetary integration, financial liberalisation and the adoption of indirect policy instruments continue to change the conditions for monetary policy in the West African Economic and Monetary Union (WAEMU). While the identification of a stable money demand relationship has become a...
This paper examines the impact of exchange rate and financial sector liberalisation measures implemented in the early 1990s on the private sector's demand for base money in Zambia. Using time-series data I show how the removal of controls on asset markets led to a permanent shift in the demand...
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