Evidence on the demand for money function in Uganda

Policy Analyst - UNICEF Zimbabwe

Development and Comp Systems from EconWPA

Abstract: The paper provides an empirical analysis of the demand for money function in Uganda. It argues that monetary policy: based on monetarist views of the dynamics of a less developed economy is, to say the least, ineffective in regulating the economy. An error correction model is used to examine the character of the demand for money – in particular if it is stable in order for traditional monetary policy to be effective. The evidence on Uganda suggests that the demand for money function is unstable and hence, monetary policy needs to be used in conjunction with other policies to achieve the goal of economic stabilisation and adjustment.

Keywords: Error correction mechanism; demand for money; monetary policy; development policy in Uganda (search for similar items in EconPapers)
JEL-codes: E41 O23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr, nep-cba and nep-mon
Date: 2002-10-30
Note: Type of Document - Word; prepared on PC; to print on HP;
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpdc:0210005

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