Broad Money Demand and Financial Liberalization in Malaysia: An Application of the Nonlinear Learning Function and Error-Correction Models

Mohamed, Azali and Matthews, Kent (2001) Broad Money Demand and Financial Liberalization in Malaysia: An Application of the Nonlinear Learning Function and Error-Correction Models. Pertanika Journal of Social Sciences & Humanities, 9 (2). pp. 131-141. ISSN 0128-7702

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Abstract

This paper attempts to model the effects of financial liberalization and innovations on the demand for broad money in Malaysia. The nonlinear learning function and error-correction mechanism model were utilized. The results of encompassing tests and dynamic (ex post) simulation confirm the error-correction as the parsimonious specification. The augmented error· correction model with nonlinear interacted variables is unable to detect the effects of financial liberalization on Malaysian broad money demand.

Item Type:Article
Keyword:Broad money demand, financial liberalization and innovation, nonlinear learning function, and error-correction model
Publisher:Universiti Putra Malaysia Press
ID Code:3326
Deposited By: Nur Izyan Mohd Zaki
Deposited On:25 Nov 2009 04:51
Last Modified:27 May 2013 07:07

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