Economics, Econometrics and Finance
3 years ago

Financial innovation stabilizes money demand in Nigeria, ensuring economic resilience.

African Development Review
Financial innovation and the stability of money demand in Nigeria
Augustine Ujunwa, Emmanuel Onah, Angela Ifeanyi Ujunwa, Chinwe Okoyeuzu, Ebere Ume Kalu

Paper Summary

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The article explores how financial innovation affects the stability of money demand in Nigeria. The researchers expanded the traditional money demand model to include financial innovation and tested it using different measures of money demand. They found a long-term relationship between money demand and financial innovation. The tests showed that money demand remains stable despite the inclusion of financial innovation, indicating that the stability of money demand in Nigeria has not been affected.