Temporal Causality Between Money and Prices in LDCs and the Error-Correction Approach: New Evidence from India

Abul Masih and Rumi Masih
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Rumi Masih: University of Canberra

Indian Economic Review, 1994, vol. 29, issue 1, 33-35

Abstract: This paper is an attempt at re-examining the question of causality between money and prices in the context of an Asian developing economy such as India. Consistent with the view of the monetarist but contrary to that of the structuralist, the study based on an improved methodology hitherto untried, tends to suggest that the money supply was the leading variable and price was the lagging variable in the case of India during the period under consideration 1961 through 1990.

JEL-codes: C22 E31 E51 (search for similar items in EconPapers)
Date: 1994
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