Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/191711 
Erscheinungsjahr: 
2018
Quellenangabe: 
[Journal:] CBN Journal of Applied Statistics [ISSN:] 2476-8472 [Volume:] 09 [Issue:] 1 [Publisher:] The Central Bank of Nigeria [Place:] Abuja [Year:] 2018 [Pages:] 47-75
Verlag: 
The Central Bank of Nigeria, Abuja
Zusammenfassung: 
This paper re-examines broad money (M2) demand and its stability in Nigeria using the Autoregressive Distributed Lag (ARDL) bounds testing procedure. First, the results indicate that a stable long-run relationship exists between M2 and its determinants including GDP, stock prices, foreign interest rates and real exchange rate. Furthermore, stock prices showed a significant and positive effect on the long-run broad money demand, which in some ways reflect increased 'financialization' and integration of the Nigerian economy into the global economic system. Overall, the findings of this study lend credence to the continued relevance of the broad money aggregate, M2, as a benchmark for monetary policy implementation in Nigeria.
Schlagwörter: 
Money Demand
Stability
ARDL Model
Bounds Test
JEL: 
E41
C42
Dokumentart: 
Article

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