Demand for Money in India: 1953-2003

B. Rao and Rup Singh

Macroeconomics from University Library of Munich, Germany

Abstract: The demand for money, especially in the developing countries, is an important relationship for formulating appropriate monetary policy and targeting monetary variables. In this paper we estimate the demand for narrow money in India and evaluate its robustness. It is found that there is a stable demand for money for almost half a century from 1953 to 2003. There is no evidence for any significant effects of the $1991$ financial reforms.

Keywords: Demand for money; Developing countries; Income and interest rate elasticities; Cointegration; Financial reforms. (search for similar items in EconPapers)
JEL-codes: C1 C5 C8 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2005-10-02
New Economics Papers: this item is included in nep-cba, nep-cwa, nep-fmk, nep-his, nep-mac and nep-mon
Note: Type of Document - pdf; pages: 17
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Journal Article: Demand for money in India: 1953-2003 (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0510002

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