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2014•Unpublished venueRequires access

EFFECT OF EXCHANGE RATES ON THE DEMAND FOR MONEY: (A STUDY OF SELECTED DEVELOPING COUNTRIES)

Hasan Farazmand, Abdolmotaleb Nazari

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Abstract

The purpose of this paper is to investigate the effect of exchange rate on money demand in selected developing countries, over the period 1999-2010 using panel data approach. Results indicate that the exchange rate has a negative and significant effect on demand for money in selected countries. On the other hand, the effect of per capita income on demand for money in these countries is positive and significant as well but the effect of interest rate on demand for money is not significant.

About this research paper

What this paper is about

The purpose of this paper is to investigate the effect of exchange rate on money demand in selected developing countries, over the period 1999-2010 using panel data approach. Results indicate that the exchange rate has a negative and significant effect on demand for money in selected countries. On the other hand, the effect of per capita income on demand for money in these countries is positive and significant as well but the effect of interest rate on demand for money is not significant.

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Available abstract

The purpose of this paper is to investigate the effect of exchange rate on money demand in selected developing countries, over the period 1999-2010 using panel data approach. Results indicate that the exchange rate has a negative and significant effect on demand for money in selected countries. On the other hand, the effect of per capita income on demand for money in these countries is positive and significant as well but the effect of interest rate on demand for money is not significant.

Key concepts: Demand for money, Economics, Monetary economics, Developing country, Exchange rate, Broad money, Speculative demand, Panel data

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EFFECT OF EXCHANGE RATES ON THE DEMAND FOR MONEY: (A STUDY OF SELECTED DEVELOPING COUNTRIES) — Research Paper | ScholarLens