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This paper evaluates the demand for broad money (M2) in The Gambia for January 1988-June 2007. There appears to be a long-run relationship for demand for real M2, but the relationship is not stable. Exogenous output shocks, financial innovation, changes in income velocity, and inadequate data quality contribute to the instability. The authorities may need to apply the monetary targeting regime flexibly in the overall objective of preserving price stability. A possible option for The Gambia is to become an inflation targeter lite.

Banks and banking -- Econometric models. --- Banks and banking -- Gambia -- Econometric models. --- Demand for money -- Gambia -- Econometric models. --- Monetary policy -- Gambia -- Econometric models. --- Finance --- Business & Economics --- Money --- Money supply --- Monetary policy --- Inflation (Finance) --- Monetary management --- Money stock --- Quantity of money --- Supply of money --- Natural rate of unemployment --- Economic policy --- Currency boards --- Demand for money --- Banks and Banking --- Inflation --- Investments: General --- Money and Monetary Policy --- Demand for Money --- Financial Markets and the Macroeconomy --- General Financial Markets: General (includes Measurement and Data) --- Price Level --- Deflation --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary economics --- Investment & securities --- Macroeconomics --- Banking --- Treasury bills and bonds --- Monetary base --- Commercial banks --- Financial institutions --- Prices --- Government securities --- Banks and banking --- Gambia, The