Money Demand in Guyana

Author/Editor:

Philippe Egoume Bossogo

Publication Date:

June 1, 2000

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper analyzes broad money demand (M2) in Guyana from January 1990 to September 1999; a period marked by deep transformations aimed at shifting Guyana from a centralized to a market economy. The paper develops a stable error-correction model based on a long-run cointegrating vector of money demand. The latter establishes that real money demand is determined in the long run by real income, interest rates, and the exchange rate. The results also show the existence of strong exchange rate-induced inflation anticipations that are typical to Guyana.

Series:

Working Paper No. 00/119

Subject:

English

Publication Date:

June 1, 2000

ISBN/ISSN:

9781451854169/1018-5941

Stock No:

WPIEA1192000

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

38

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