The Demand for Money in Pakistan.Some Alternative Estimates

Shigeyuki Abe, Maxwell Fry, Byoung K. Min, PAlROJ Vongvipanond and Teh Yu
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Shigeyuki Abe: University or"Hawaii, U.S.A.
Maxwell Fry: University or"Hawaii, U.S.A.
Byoung K. Min: University or"Hawaii, U.S.A.
PAlROJ Vongvipanond: University or"Hawaii, U.S.A.
Teh Yu: University or"Hawaii, U.S.A.

The Pakistan Development Review, 1975, vol. 14, issue 2, 249-257

Abstract: In a recent article in this Review, Akhtar [2] presented 30 estiO.ates of demand or money functions in Pakistan. One of the purposes of Akhtar's study was to est two alternative theories, "the modern quantity theory of money and what JUay ,lie called the 'accumulating capital' framework" [2, p. 40). We have examined Akhtar's estimates and have serious reservations concerning the validity of his results. In the present paper, therefore, we raise several criticisms against Akhtar's study and then offer alternative estimates of demand for money in Pakistan.

Date: 1975
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