Bahmani-Oskooee, Mohsen; Gelan, Abera - In: Journal of Economic Studies 36 (2009) September, pp. 216-235
Purpose – Studies that have addressed the stability of the demand for money in African countries are rare. A few papers … investigate the stability of the M2 demand for money in 21 African countries using quarterly data over the period 1971Q1-2004Q3 …. Design/methodology/approach – A standard money demand function is designed. It is estimated using a bounds testing approach …