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- Title
MONEY SUPPLY AND AGRICULTURAL PRICESA CAUSALITY ANALYSIS FOR PAKISTAN ECONOMY (QUARTERLY DATA ANALYSIS).
- Authors
Hye, Qazi Muhammad Adnan
- Abstract
The present study was conducted at Applied Economics Research Centre, University of Karachi, Pakistan during 2008. This study empirically investigates the cointegration and causal relationship between agricultural prices and money supply during a period 1971 to 2007. For empirical analysis JJ cointegration for long run and Toda Yamamoto Modified Granger Causality Test for causal association were used. The results show that a long run relationship existed between both variables and long run elasticity of agricultural prices with respect to money supply is 0.79. The causality analysis indicates unidirectional causality from money supply to agricultural prices. Thus money supply is not neutral in determining agriculture prices in an agricultural based economy of Pakistan.
- Subjects
KARACHI (Pakistan); PAKISTAN; AGRICULTURAL prices; MONEY supply; AGRICULTURAL economics; ECONOMETRICS; TIME series analysis; AGRICULTURE costs; ECONOMIC history
- Publication
Journal of Agricultural Research (03681157), 2009, Vol 47, Issue 2, p193
- ISSN
0368-1157
- Publication type
Article