De-Monetisation, Inflation and Coffee: The Demand for Money in Uganda
Posted: 29 Feb 2008
Date Written: October 1999
Abstract
This paper investigates the recent macroeconomic history of Uganda using time series models for the demand for the three main monetary aggregates. A collapse of income and high inflation led to de-monetisation. The flight from currency and demand deposits was limited by their use for transactions, but demand for time and savings deposits was largely a function of inflation. The role of the exchange rate and the price of coffee in determining an asset demand for money was mixed. Re-monetisation since the late 1980s has been slower than de-monetisation.
Suggested Citation: Suggested Citation
Henstridge, NM, De-Monetisation, Inflation and Coffee: The Demand for Money in Uganda (October 1999). Journal of African Economies, Vol. 8, Issue 3, pp. 345-385, 1999, Available at SSRN: https://ssrn.com/abstract=915092
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