Changes in structure of demand for money in four crisis affected Asian countries
Changes in structure of demand for money in four crisis affected Asian countries
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2003
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Assumption University
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eng
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Changes in structure of demand for money after the 1997 Asian crisis
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Assumption University. Martin de Tours School of Management and Economics
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AU Journal of Management 1, 1 (September-March 2003), 1-14
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Abstract
This paper performs a comparative analysis on structures of demand for money before and after the 1997
Asian Crisis by constructing cointegration and error-correction models, utilizing monthly observations under
an open-economy framework. The findings postulate the differences in the nature of long-run relationships in
periods before and after the Asian crisis, as well as speed of adjustment towards equilibrium among ASIA-4:
Korea, Malaysia, the Philippines and Thailand. Interest rate policy interventions have no influence on short-run
relationship of demand for money function.
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In English ; only abstract in English.
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Asia
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