Frankel et al (1986) pointed out that industrialized countries have larger saving rate coefficients than do developing countries in the framework of Feldstein-Horioka puzzle. This is referred to as the Frankel-Dooley-Mathieson puzzle in this paper. This paper extends past analyses by...

This paper empirically analyzed the money demand function in the Sub-Saharan African region using a nonstationary panel data analysis. We conducted the analysis on 35 countries based on annual data from 1980 to 2005. The empirical results revealed that there exists a cointegrating relationship...

This paper empirically analyzed the money demand function in the Sub-Saharan African region using a nonstationary panel data analysis. We conducted the analysis on 35 countries based on annual data from 1980 to 2005. The empirical results revealed that there exists a cointegrating relationship...

Frankel et al (1986) pointed out that industrialized countries have larger saving rate coefficients than do developing countries in the framework of Feldstein-Horioka puzzle. This is referred to as the Frankel-Dooley-Mathieson puzzle in this paper. This paper extends past analyses by...