01636cas a2200241 a 4500 AALejournalIMF001094 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858617 1018-5941 BD-DhAAL BD-DhAAL Sriram, Subramanian. Demand for M2 in an Emerging-Market Economy : An Error-Correction Model for Malaysia / Subramanian Sriram. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (49 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyses demand for M2 in Malaysia from August 1973 to December 1995 under both the closed- and open-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic error-correction models are specified and estimated. The results indicate that the demand is for real M2. Both the long- and short-run models are well-specified and are fairly stable. The long-run income elasticity is close to one with the opportunity cost variables carrying the expected signs. The external events have some influence on the stability. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1999/173 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/173/001.1999.issue-173-en.xml IMF e-Library