Download or read book On the Stability of Money Demand in Ghana written by Jihad Dagher and published by International Monetary Fund. This book was released on 2011-11-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper adopts the bounds testing procedure developed by Pesaran et al. (2001) to test the stability of the long-run money demand for Ghana. The results provide strong evidence for the presence of a stable, well-identified long-run money demand during a period of substantial changes in the financial markets. The empirical evidence points to complex dynamics between money demand and its determinants while suggesting that deviations from the equilibrium are rather short-lived.1