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The demand for money in Angola

Carlos Barros, Joao Faria () and Luis Gil-Alana ()

Journal of Economics and Finance, 2017, vol. 41, issue 2, No 12, 408-420

Abstract: Abstract This paper analyses Angola’s long-run and short-run money demand, identifying its determinants using data from January 2000 to August 2013. A theoretical model is presented and the estimated results show that money mass, income, inflation, exchange rate and interest rates are cointegrated, revealing a long-run equilibrium relationship between these variables. The cointegration relationship is unstable in the short run. The results are in line with the monetary policy undertaken by the Central Bank of Angola and also in line with published papers on money demand. Policy implication is derived.

Keywords: Angola; Money demand; Long run; Short run (search for similar items in EconPapers)
JEL-codes: C22 E41 O11 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/s12197-016-9358-6

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