Year: 2005
Author: Graf Lambsdorff, Johann
Credit and Capital Markets – Kredit und Kapital, Vol. 38 (2005), Iss. 2 : pp. 155–176
Abstract
The ratio of money demand to GDP may increase with portfolio demand, monetization, and a deeper division of labor. Using a cross-section approach to money demand for 126 countries this study shows that the share of agriculture, life expectancy at birth, openness, and trust in the banking system capture a good deal of these influences. Once these variables are included, GNP per head negatively impacts on the ratio of money demand to GDP, which is in line with the standard result by Tobin and Baumol. (JEL E41, C21)
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/ccm.38.2.155
Credit and Capital Markets – Kredit und Kapital, Vol. 38 (2005), Iss. 2 : pp. 155–176
Published online: 2005-02
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 22
Author Details
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