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Real versus nominal adjustment mechanism of the Malaysian money demand function: further evidence


Habibullah, Muzafar Shah (1992) Real versus nominal adjustment mechanism of the Malaysian money demand function: further evidence. Malaysian Management Journal, 1 (1). pp. 57-69. ISSN 0128-6226

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Abstract

This article investigates the issue of real versus nominal adjustment specifications in the Malaysian money demand function. Performance of both specifications was subjected to several test, namely ; model specification money demand function for M1, M2 and M3 are not stable for the period 1962-1991. Our question is, does financial innovation during the period of 1979-1991 affected the stability of the Malaysian money demand function? A test on Gurley-Shaw hypothesis was done to answer the above question. However, our results suggests that financial innovation does not play a major role in affecting the Malaysian money demand function during the period under study.

Item Type: Article
Uncontrolled Keywords: money demand, financial development, Malaysia
Subjects: H Social Sciences > HG Finance
Divisions: UNSPECIFIED
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 05 Sep 2010 07:49
Last Modified: 28 Jun 2015 02:39
URI: http://repo.uum.edu.my/id/eprint/910

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