The demand for international reserves and monetary equilibrium: the case of nigeria

Douglason Omotor ()
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Douglason Omotor: Department of Economics, Delta State University, Abraka, Nigeria

Economics Bulletin, 2009, vol. 29, issue 3, A23

Abstract: The purpose of this paper is to empirically evaluate a dynamic error correction model that incorporates monetary disequilibrium in the demand for international reserves using Nigerian data for the period 1970 – 2007. The results show that reserves movement respond both to actual and desired reserves divergences and equally to monetary disequilibrium conditions; implying a high level of international reserves sterilization and equilibrium adjustment correction in the Nigerian financial system.

Keywords: International reserves; monetary equilibrium; sterilization; Nigeria (search for similar items in EconPapers)
JEL-codes: E5 F0 (search for similar items in EconPapers)
Date: 2009-08-03
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