05572oam 22013094 450 991078552650332120230801224006.01-4755-4184-81-4755-8317-6(CKB)2670000000234715(EBL)1606808(SSID)ssj0000942926(PQKBManifestationID)11505573(PQKBTitleCode)TC0000942926(PQKBWorkID)10974935(PQKB)11380077(MiAaPQ)EBC1606808(Au-PeEL)EBL1606808(CaPaEBR)ebr10590647(OCoLC)796677552(IMF)WPIEE2012160(IMF)WPIEA2012160(EXLCZ)99267000000023471520020129d2012 uf 0engur|n|---|||||txtccrMonetization in Low- and Middle-Income Countries /Noriaki Kinoshita, Cameron McLoughlinWashington, D.C. :International Monetary Fund,2012.1 online resource (25 p.)IMF Working PapersDescription based upon print version of record.1-4755-0465-9 1-4755-8711-2 Includes bibliographical references.Cover; Contents; I. Introduction; II. Review of the Literature; A. Macroeconomic Factors Affecting Monetization; B. The Impact of Financial Sector Reforms on Financial Deepening; C. Economic Growth Effects of Financial Sector Development; III. Empirical Analysis; A. The Model and Data; B. Estimation Methodology; C. Estimation Results; IV. Conclusions; Figures; 1. Mean Monetization Ratio: Average, 1973-2005; 2. Monetization Ratio, 1970-2005; Table; 1. Descriptive Statistics; 2. Summary Statistics and Regional Means; 3. Results of Pedroni Cointegration Tests (2004); 4. Pairwise Correlations5. Main Results: Multivariate RegressionsData Appendix Tables; A.1. Low-and Middle-Income Countries; A.2. Data Sources; ReferencesThe degree of an economy’s monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP-- in low- to middle-income countries is significantly correlated with per-capita GDP, real interest rates, and financial sector reform. It suggests that maintaining an upward momentum in monetization can be an important policy objective, particularly for low-income countries, and that monetary and financial sector policies need to be conducive to enhancing monetization.IMF Working Papers; Working Paper ;No. 2012/160MoneyDeveloping countriesFinancial institutionsManagementBanks and BankingimfFinance: GeneralimfInflationimfDemand for MoneyimfMonetary PolicyimfInterest Rates: Determination, Term Structure, and EffectsimfFinancial Markets and the MacroeconomyimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfGeneral Financial Markets: Government Policy and RegulationimfPrice LevelimfDeflationimfFinanceimfBankingimfFinancial services law & regulationimfMacroeconomicsimfDeposit ratesimfFinancial sector developmentimfBank depositsimfFinancial sector reformimfFinancial servicesimfFinancial marketsimfFinancial regulation and supervisionimfPricesimfFinancial services industryimfInterest ratesimfBanks and bankingimfBangladeshimfMoneyFinancial institutionsManagement.Banks and BankingFinance: GeneralInflationDemand for MoneyMonetary PolicyInterest Rates: Determination, Term Structure, and EffectsFinancial Markets and the MacroeconomyBanksDepository InstitutionsMicro Finance InstitutionsMortgagesGeneral Financial Markets: Government Policy and RegulationPrice LevelDeflationFinanceBankingFinancial services law & regulationMacroeconomicsDeposit ratesFinancial sector developmentBank depositsFinancial sector reformFinancial servicesFinancial marketsFinancial regulation and supervisionPricesFinancial services industryInterest ratesBanks and bankingKinoshita Noriaki1509568McLoughlin Cameron1556425International Monetary Fund.DcWaIMFBOOK9910785526503321Monetization in Low- and Middle-Income Countries3819105UNINA