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Does financial liberalisation boost money demand? Evidence from Sri Lanka

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Date

2013

Authors

Paudel, Ramesh C
Perera, Nelson

Journal Title

Journal ISSN

Volume Title

Publisher

Serials Publications

Abstract

This paper examines the role of financial liberalization on money demand in Sri Lanka covering the duration over 1963 to 2008. Taking the structural break into consideration, it is detected that financial liberalization does not have such a strong positive association with money demand as suggested by McKinnon-Shaw hypothesis; rather it is negative in both long-run and short-run. However, we found strong evidence that the exchange rate and interest rate reform initiated in 1977 has a substantial contribution to expand both narrow and broad money demand.

Description

Keywords

Financial Liberalisation, Demand for Money, Sri Lanka

Citation

URI

http://hdl.handle.net/1885/224541

Collections

ANU Research Publications

Source

Indian Journal of Economics and Business

Type

Journal article

Book Title

Entity type

Access Statement

License Rights

DOI

Restricted until

2099-12-31

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