Dollarization and money demand stability in Bolivia

Casto Montero Kuscevic and Darius Martin

Economics and Business Letters, 2015, vol. 4, issue 3, 116-122

Abstract: This paper investigates the long-run money demand stability in Bolivia over the period 1990-2014 using a variety of estimators, namely, dynamic OLS, fully modified OLS, and canonical co-integrating regressions. Our results are robust and reveal that long-run money demand instability has been reversed even with persistent inflation volatility. We also show that de-dollarization is associated with money demand stabilization.

Date: 2015
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