Money and Monetary Policy in Less Developed Countries

Money and Monetary Policy in Less Developed Countries

A Survey of Issues and Evidence

1st Edition - January 1, 1980

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  • Editors: Warren L. Coats, Deena R. Khatkhate
  • eBook ISBN: 9781483157306

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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.

Table of Contents

  • Preface


    I. Money and Monetary Policy in Less Developed Countries: Survey of Issues and Evidence

    II. Money, Finance, and Economic Development

    1. 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 Techniques

    1. 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



Product details

  • No. of pages: 842
  • Language: English
  • Copyright: © Pergamon 1980
  • Published: January 1, 1980
  • Imprint: Pergamon
  • eBook ISBN: 9781483157306

About the Editors

Warren L. Coats

Deena R. Khatkhate

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