.... Originality/value This study extends the debate in scholarly and policy circles on the feasibility of proposed African monetary unions. Bounds test Demand for money Stable E41 C22 Three fundamental factors motivate the positioning of a study on the assessment of the stability of demand...

... the bootstrap procedure by Emirmahmutoglu and Kose (2011) , testing causality from x to y goes as follows: Dr Nicholas Apergis can be contacted at: napergis@unipi.gr © Emerald Group Publishing Limited 2015 Macroeconomics Emerging economies Time series analysis E41...