Money Demand in Guyana
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Summary:
This paper analyzes broad money demand (M2) in Guyana from January 1990 to September 1999; a period marked by deep transformations aimed at shifting Guyana from a centralized to a market economy. The paper develops a stable error-correction model based on a long-run cointegrating vector of money demand. The latter establishes that real money demand is determined in the long run by real income, interest rates, and the exchange rate. The results also show the existence of strong exchange rate-induced inflation anticipations that are typical to Guyana.
Series:
Working Paper No. 2000/119
Subject:
Demand for money Exchange rates Financial institutions Foreign exchange Inflation Money National accounts Personal income Prices Treasury bills and bonds
English
Publication Date:
June 1, 2000
ISBN/ISSN:
9781451854169/1018-5941
Stock No:
WPIEA1192000
Pages:
38
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