AN EMPIRICAL ANALYSIS OF THE DEMAND FOR MONEY IN NIGERIA
ABSTRACT This study examines the long-run demand for real broad money function and its stability in Nigeria for the period from 1970 to 2012 inclusive. The study employs the Augmented- Dickey Fuller and Phillips-Perron tests for unit root, the Gregory-Hansen (1996a, b) cointegration test to capture endogeneous structural breaks in the cointegrating vectors of Nigerian long-run money demand function, cumulative sum of recursive residuals (CUSUM) and cumulative sum of recursive ...
Read more