Skip to main content

How stable is the demand for money in emerging economies?

Buy Article:

$51.63 plus tax (Refund Policy)


One of the key elements of implementing the monetary policy is stability of the demand for money. The literature includes a large number of studies that have tested the stability of the money demand in developed as well as less-developed countries but not in emerging economies of Eastern Europe. As market-based data becomes available from these countries, there is an urgency to test old theories for these modern market-oriented economies. In this article we consider the experiences of Armenia, Bulgaria, the Czech Republic, Hungary, Poland, Russia and the Slovak Republic. Using the bounds testing approach to error-correction modelling and cointegration, we show that money demand is stable in these countries.

Document Type: Research Article


Affiliations: 1: Department of Economics, Georgia Southern University, Statesboro, GA 30460, USA 2: Department of Economics and Finance, Southern Illinois University, Edwardsville, IL 62026-1102, USA

Publication date: October 1, 2010

More about this publication?

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more