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This paper analyses Angola’s long-run and short-run money demand, identifying its determinants using data from January 2000 to August 2013. A theoretical model is presented and the estimated results show… Click to show full abstract
This paper analyses Angola’s long-run and short-run money demand, identifying its determinants using data from January 2000 to August 2013. A theoretical model is presented and the estimated results show that money mass, income, inflation, exchange rate and interest rates are cointegrated, revealing a long-run equilibrium relationship between these variables. The cointegration relationship is unstable in the short run. The results are in line with the monetary policy undertaken by the Central Bank of Angola and also in line with published papers on money demand. Policy implication is derived.
Journal Title: Journal of Economics and Finance
Year Published: 2017
Link to full text (if available)
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