On the Dynamic Specification of Money Demand in Kenya1
- 1 August 1992
- journal article
- Published by Oxford University Press (OUP) in Journal of African Economies
- Vol. 1 (2) , 233-270
- https://doi.org/10.1093/oxfordjournals.jae.a036750
Abstract
Recent developments in the theory of dynamic specification are applied to the estimation of the demand for money in post-independence Kenya. The models use a broad specification of the demand function, allowing for parallel market currency substitution effects, from which robust error-correction models of money demand are estimated for a range of standard and Divisia monetary aggregates and are shown to encompass existing studies.This publication has 0 references indexed in Scilit: