03342nam 2200649Ia 450 991082266230332120200520144314.01-4755-4184-81-4755-8317-6(CKB)2670000000234715(EBL)1606808(SSID)ssj0000942926(PQKBManifestationID)11505573(PQKBTitleCode)TC0000942926(PQKBWorkID)10974935(PQKB)11380077(Au-PeEL)EBL1606808(CaPaEBR)ebr10590647(OCoLC)796677552(IMF)WPIEE2012160(IMF)WPIEA2012160(MiAaPQ)EBC1606808(EXLCZ)99267000000023471520111102d2012 uy 0engur|n|---|||||txtccrMonetization in low- and middle-income countries /prepared by Cameron McLoughlin and Noriaki Kinoshita1st ed.Washington International Monetary Fund20121 online resource (25 p.)IMF working paper ;12/160Description 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 institutionsManagementMoneyFinancial institutionsManagement.332.1/52McLoughlin Cameron1659136Kinoshita Noriaki1604277International Monetary Fund.MiAaPQMiAaPQMiAaPQBOOK9910822662303321Monetization in Low- and Middle-Income Countries4013657UNINA