English, Article edition: Money demand function for Southeast Asian countries: An empirical view from expenditure components Tuck Cheong Tang

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/28722
Physical Description
  • article
Language
  • English

Edition details

Title
  • Money demand function for Southeast Asian countries: An empirical view from expenditure components
Author
  • Tuck Cheong Tang
Physical Description
  • article
Notes
  • Purpose – The purpose of this paper is to empirically investigate the money demand function for five Southeast Asian countries, viz. Malaysia, Thailand, Singapore, the Philippines, and Indonesia. Design/​methodology/​approach – The ARDL modeling approach is employed because of its ability to incorporate both I(0) and I(1) regressors. Findings – The results reveal that real M2 aggregate, real expenditure components, exchange rate, and inflation rate are cointegrated for Malaysia, the Philippines, and Singapore. The statistical significance of real income components suggests the bias of using single real income variable in money demand (M2 aggregate) specification of both short- and long-run. The CUSUM and CUSUMSQ tests show that the estimated parameters are stable for the five Southeast Asian economies, except for Indonesia which is based on short-run specification. Practical implications – These findings are important for policy makers in formulating monetary policy. Originality/​value – Besides conventional determinants of money demand such as exchange rate and interest rate variables, this study considers the major components of final expenditure (GDP) – final consumption expenditures (private and government sectors), expenditures on investment goods, and exports as scale variables.
  • Expenditure, Fiscal measures, Money supply, National economy, South East Asia
  • RePEc:eme:jespps:v:34:y:2007:i:6:p:476-496
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment