摘要：Empirical literature on money demand function has established main the determinants are income, interest rates and exchange rate. Mcgibany and Nourzad (1995) introduced exchange rate volatili ty as an additional determinant in estimating money demand function. Exchange rate volatility encourages investors to substitute to least risky assets. Using annual data for selected Asian economies, Malaysia, Thailand and Singapore, and employing ARDL model, the results show both short run and long run effects on money demand
关键词：Money demand; Exchange Rate Volatility; ARDL model
