The Empirical Verification of Money Demand in Case of India: Post-Reform Era

Author(s):  
Masudul Hasan Adil ◽  
Salman Haider ◽  
Neeraj Hatekar
2018 ◽  
Vol 66 (3-4) ◽  
pp. 326-346
Author(s):  
Masudul Hasan Adil ◽  
Salman Haider ◽  
Neeraj R. Hatekar

In the evidence of the globalised world economy and changing economic structure, the traditional policies require a close examination. This is particularly true in the case of emerging economies like India, which have experienced a rapidly changing policy environment since 1991. The demand for money is an important ingredient for monetary policy formulation. Therefore, the present study re-examines the stability and specification issues of money demand in India’s post-reform era. The study takes care of structural breaks in the macroeconomic series while using a unique quarterly dataset from 1996: Q2 to 2016: Q3. Despite the structural breaks, the application of Gregory and Hansen (1996) and autoregressive distributed lag models demonstrate the existence of a stable short-and long-run relationships between real money balances and their determinants. These empirical findings are having a lot of policy implications in the current monetary policy framework of India—inflation targeting framework.


2017 ◽  
Vol 9 (2) ◽  
pp. 407-424
Author(s):  
Jamaluddin Jamaluddin

Indonesian reformation era begins with the fall of President Suharto. Political transition and democratic transition impact in the religious life. Therefore, understandably, when the politic transition is not yet fully reflects the idealized conditions. In addition to the old paradigm that is still attached to the brain of policy makers, various policies to mirror the complexity of stuttering ruler to answer the challenges of religious life. This challenge cannot be separated from the hegemonic legacy of the past, including the politicization of SARA. Hegemony that took place during the New Order period, adversely affected the subsequent transition period. It seems among other things, with airings various conflicts nuances SARA previously muted, forced repressive. SARA issues arise as a result of the narrowing of the accommodation space of the nation state during the New Order regime. The New Order regime has reduced the definition of nation-states is only part of a group of people loyal to the government to deny the diversity of socio-cultural reality in it. To handle the inheritance, every regime in the reform era responds with a pattern and a different approach. It must be realized, that the post-reform era, Indonesia has had four changes of government. The leaders of every regime in the reform era have a different background and thus also have a vision that is different in treating the problem of racial intolerance, particularly against religious aspect. This treatment causes the accomplishment difference each different regimes of dealing with the diversity of race, religion and class that has become the hallmark of Indonesian society.


2008 ◽  
pp. 61-76
Author(s):  
A. Porshakov ◽  
A. Ponomarenko

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.


2006 ◽  
pp. 48-77
Author(s):  
Article Editorial

During the last six years, exceptionally favourable external conditions for an upsurge of the domestic economy have been developed. However, they failed to result in an economic boom, which has been estimated by the authors as quite possible. One of the reasons for this - deterioration of the investment climate in the country that caused a decline of business activities and money demand decrease thus leading to reduction of potential GDP growth rate. The accumulated modernisation problems cannot be resolved without increasing the economic dynamics. But this requires an economic policy able to facilitate predictability of Russian business operational environment, to protect it legally, to secure a system of partnership relations with the government and to respect the interests of the main participants in the state level decision-making process concerning business undertakings and investment climate.


2019 ◽  
Vol 7 (1) ◽  
pp. 10-18
Author(s):  
Tsvetanka Tsenova

This article focuses on the relationship between literacy methods applied at school and the emergence of serious difficulties in mastering reading and writing skills that shape the developmental dyslexia. The problem was analyzed theoretically and subjected to empirical verification. Experimental work was presented which aims to study the phonological and global reading skills of 4- th grade students with and without dyslexia. Better global reading skills have been demonstrated in all tested children, and this is much more pronounced in those with dyslexia than their peers without disorders. Hence, the need to develop a special, corrective methodology for literacy of students with developmental dyslexia consistent with their psychopathological characteristics.


2019 ◽  
Vol 2 (1) ◽  
pp. 16-27
Author(s):  
Abdulloh Fuadi

This paper discusses the discourse about the complexity of ethnic and religious identity monism in Mataram Lombok West Nusa Tenggara; Sasak ethnic is Islam, while Balinese ethnic is Hindu. The question is then does religious conversion also include ethnic conversion? Methodologically, this paper is library research. Several notes related to this discourse are as follows: (1) Increasing conflict escalation occurs during the Reformation era. Identity politics emerge and strengthen. In several conflicts at Mataram, the ethnic and religious identity is thickening. (2) There is a complexity between democracy and diversity. Democracy demands unity, while multiculturalism emphasizes particularity. Balancing them is easy in theory but difficult in practice. (3) It must be distinguished between politics and politicization. In the case of Indonesia, ethnic and religious issues are often politicized by some people to achieve their own group goals. (4) Relying on ethnicity is a natural instinct in self-defense and affirming identity. This is not necessary to be troubled and blamed. (5) These problems are like a Pandora's box, a box full of diseases. It was the reform era that opened the box which had been closed or covered by the New Order. What happened in the Reformation Era is the emergence of various ethnic and religious problems which were not recognized during the New Order era.


2017 ◽  
Vol 6 (3) ◽  
Author(s):  
Suryo Ediyono (Page 33-42)

The ideology of radical-terrorism is an interesting remark to be understood by the Karangduren Klaten village community as an effort in preventing the entry value that is against the ideology of Pancasila. The supreme divinity value of Pancasila ideology one in the reform era has been challenged by the wave of globalization on information. Socialization on the divinity values aims to stimulate public awareness on the threat of radical ideology of terrorism that potentially grow and develop in the village of Karangduren, Kebonarum, Klaten. This study covers the fields of nationalism and identity with the preaching method and focus of discussion. The Ideology of divinity axiologically and epistemologically comprising of divinity, humanity, unity, democratic and justice values which need to be delivered through specific form of communication which can be adjusted to community’s life in the village of Karangduren. Language as a tool in which various information can be accessed by people living in both rural and urban transition strongly influenced by factors of traditional cultural practices that are still upheld in dealing with modernity. The current actual discourse of terrorism needs to be understood and useful as countering radicalism through familiarization the noble values exemplifications as deeply held by the community leaders and the local youth movement ‘Karangtaruna; through the use of appropriate language on the context of Karangduren citizens.


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