Uganda's Money Demand Linked to Income, Exchange Rates, and Inflation
The article analyzes money demand in Uganda from 1986 to 2003. They looked at different types of money and how they relate to real money balance. The results show that as income goes up, people want more money. But when exchange rates, inflation, and interest rates rise, people want less money. People also switch from non-interest to interest-bearing assets and foreign currency. The money demand patterns stayed consistent over the whole period.