Demand for money in a debt-constrained economy: a case study of Nigeria

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dc.contributor.authorEssien, E.A.
dc.contributor.authorOnwioduokit, E.A
dc.contributor.authorOsho, E.T
dc.date.accessioned2018-10-18T12:51:47Z
dc.date.available2018-10-18T12:51:47Z
dc.date.issued1996-06
dc.description.abstractStudies in Nigeria on the demand for money had often centred around finding a stable function using variables such as income, interest rate, inflation, exchange rate or foreign interest rate. This study considers the impact of debt (external sector variable) on demand for money. In particular, the debt service ratio has been shown empirically to influence demand for money. The model, estimated with debt service taken into account, was found to be very stable. Hence, on the basis of this empirical finding, it is recommended that debt-service be considered an appropriate policy tool of monetary control. The two measures of exchange rate, parallel and official, showed no significant difference in the two models the study relied on, but model 1 was found to encompass model 2.en_US
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dc.description.provenanceMade available in DSpace on 2018-10-18T12:51:47Z (GMT). No. of bitstreams: 1 Demand for money in a debt constrained economy a case study of nigeria.pdf: 400503 bytes, checksum: 38ff8e5552bc24b2591efb85b4c0847d (MD5) Previous issue date: 1996-06en
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.identifier.citationEssien, E.A, Onwioduokit, E.A and Osho, E.T, (1996). Demand for money in a debt-constrained economy: a case study of Nigeria. Economic and Financial Review, 34(2), 579-605en_US
dc.identifier.issn1957 - 2968
dc.identifier.urihttp://repo.cbn.gov.ng/jspui/handle/123456789/394
dc.language.isoenen_US
dc.publisherCentral Bank of Nigeria, Research Departmenten_US
dc.relation.ispartofseriesVol. 34;No. 2
dc.subjectDemanden_US
dc.subjectMoneyen_US
dc.subjectDebt-Constrained Economyen_US
dc.subjectEconomyen_US
dc.subjectDemand for Moneyen_US
dc.subjectMonetary Policyen_US
dc.subjectGross Domestic Productsen_US
dc.subjectGross National Productsen_US
dc.subjectDebt Serviceen_US
dc.subjectDebt Service Ratioen_US
dc.titleDemand for money in a debt-constrained economy: a case study of Nigeriaen_US
dc.typeArticleen_US

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