Demanda por moeda nos estados brasileiros: uma análise pós- -keynesiana em painel

Demand for money in Brazilian states: a post keynesian panel analysis

Natallya Almeida Levino, André Lages and Marco Antonio Jorge

MPRA Paper from University Library of Munich, Germany

Abstract: The interface between Monetary and Regional Economics is still little explored in Brazil. In this sense, the present paper aims to show the influence of regional aspects on the agent’s liquidity preference. Thus the paper is divided in four sections beyond a brief introduction. In the first one a survey of the literature which relates money demand and territorial aspects is presented. The second one discusses the working up of the variables and the model. This model confronts liquidity preference with HDI – Human Development Index and a variable comprised of population divided by the number of bank agencies (a proxy to the inverse of credit availability) and employs panel data analysis. The next section presents the results: the demand for money tends to be smaller in more developed Brazilian states, conforming to the model forecasts. The relationship between liquidity preference and credit availabilityl however is not statistically significant.

Keywords: Liquidity preference; brazilian states; panel data. (search for similar items in EconPapers)
JEL-codes: E12 E41 R12 (search for similar items in EconPapers)
Date: 2010-07-05, Revised 2012-10-25
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Published in Ensaios FEE n.1.34(2013): pp. 225-252

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