| dc.contributor.author | Moyo, Theresa. | en_US |
| dc.date.accessioned | 2014-10-21T12:35:07Z | |
| dc.date.available | 1996 | |
| dc.date.issued | 1996 | en_US |
| dc.identifier.other | AAINQ65808 | en_US |
| dc.identifier.uri | http://hdl.handle.net/10222/55758 | |
| dc.description | Since the early 1980's, a number of Southern African Development Community (SADC) countries have introduced economic and financial reforms under the auspices of Structural Adjustment Programs (SAPs). Recent developments in studies on demand for money point out that such changes may cause instability of the demand for money function and ultimately inhibit the efficacy of monetary policies. Furthermore, the application of classical and monetarist type demand for money models under these circumstances would be unsuitable. Error correction models (ECMs) are considered to be more appropriate. | en_US |
| dc.description | This study reviews financial liberalization under SAPs and applies an error correction approach to model the demand for money in three SADC countries, namely, Malawi, Zambia, and Zimbabwe. Empirical results indicate that the demand for broad money has remained stable in Malawi and Zimbabwe whereas narrow money in both cases has become more unstable. In the case of Zambia, financial liberalization has had a destabilizing effect on the demand for both narrow and broad money. The empirical results are significant because they show the limitations of monetary policy under a changing financial environment and caution against undue reliance on monetary policy as a tool of macroeconomic management. | en_US |
| dc.description | Thesis (Ph.D.)--Dalhousie University (Canada), 1996. | en_US |
| dc.language | eng | en_US |
| dc.publisher | Dalhousie University | en_US |
| dc.publisher | | en_US |
| dc.subject | Economics, Theory. | en_US |
| dc.title | An error correction approach to modelling demand for money in selected SADC countries under structural adjustment programs. | en_US |
| dc.type | text | en_US |
| dc.contributor.degree | Ph.D. | en_US |
