Detalle Publicación

ARTÍCULO

The demand for money in Angola

Autores: Barros, C.P. (Autor de correspondencia); Faria, J.R.; Gil Alaña, Luis Alberiko
Título de la revista: JOURNAL OF ECONOMICS AND FINANCE
ISSN: 1055-0925
Volumen: 41
Número: 2
Páginas: 408 - 420
Fecha de publicación: 2017
Resumen:
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.