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Finance and Credit

5(341) – 2009 February

Investigation of correlation between monetary aggregates growth rates and GDP volume

Vol. 15, Iss. 5, FEBRUARY 2009

Available online: 20 August 2009

Subject Heading: Macroeconomics

JEL Classification:

Abdurazakov T.K. master of economics, head of the Currency & Economic Sector of the Head Office of the Central Bank of the Republic of Uzbekistan for Syr Darya region

Norkobilov S.Kh. PhD, associate professor, head of the Banking Department Tashkent Finance Institute ;

The article gives the statistic analysis of the availability of correlation between variation of different quantitative indicators of money and variation of GDP volume. The main criterion for the selection of money quantitative indicator was Milton Friedman hypothesis of the existence of close correlation between growth rate of the amount of money in circulation and growth rate of the nominal income. As an object of investigation different monetary aggregates and indicator of volume of GDP of Russia, Ukraine and Kazakhstan were taken.

Keywords: rates, growth, money, aggregates, hypothesis, Milton Friedman, GDP

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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