Money and Monetary Policy in Less Developed Countries: A Survey of Issues and Evidence focuses on monetary policy, the financial intermediation process, and the role of money in economic development in less developed countries (LDCs). Topics covered include financial development and economic growth in underdeveloped countries; instruments and techniques used in the implementation of monetary policy: and econometric policy models. This book is comprised of 46 chapters and begins with a discussion on the main lines of thought in the field of money and monetary policy in LDCs, with emphasis on the significant empirical results. The reader is then introduced to the role of money in the development process; production and monetization in the subsistence sector; some aspects of financial policies and central banking in developing countries; and the efficacy of monetary rules for LDCs. The subsequent chapters explore monetary policy instruments such as interest rates, credit controls, and exchange rates; credit policy and the balance of payments in developing countries; and price and output behavior in the Indian economy from 1951 to 1973. A semiannual macroeconometric model of the Philippines for the period 1967-1976 is also described. This monograph will be a valuable resource for economists, economic policymakers, and central bankers as well as students.
Preface Acknowledgments I. Money and Monetary Policy in Less Developed Countries: Survey of Issues and Evidence II. Money, Finance, and Economic Development1. The Role of Money in the Development Process Financial Development and Economic Growth in Underdeveloped Countries The Promotion of the "Banking Habit" and Economic Development Financial Intermediation and Economic Growth in Less Developed Countries: a Theoretical Approach Production and Monetization in the Subsistence Sector The Velocity of Money and Per Capita Income in Developing Economies: Malaysia and Singapore Money and Capital or Financial Deepening in Economic Developments? Some Aspects of Financial Policies and Central Banking in Developing Countries List of Recommended Readings 2. Monetary Policy Formulation and Objectives Analytic Basis of the Working of Monetary Policy in Less Developed Countries A Primer on Inflation The Efficacy of Monetary Rules for LDCs Recent Evolution of Monetary Policy in India List of Recommended Readings
III. Implementation of Monetary Policy: Instruments and Techniques1. Monetary Aggregates (a) Definition of Money (b) Demand for Money (c) Money Supply Process (d) Instruments of Control 2. Other Policy Instruments (a) Interest Rates (b) Selective Credit Controls (c) Exchange Rates
IV. Econometric Policy Models What Kind of Macroeconometric Model for Developing Economies? Toward a Monetary Model for Developing Countries Credit Policy and the Balance of Payments in Developing Countries An Analysis of Price and Output Behavior in the Indian Economy: 1951-73 A Semiannual Macroeconometric Model of the Philippines, 1967-76 List of Recommended Readings Bibliography Index
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- © Pergamon 1980
- 1st January 1980
- eBook ISBN: