05756oam 22013934 450 991097503170332120250426110816.09781475541847147554184897814755831751475583176(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)EBC1606808WPIEA2012160(EXLCZ)99267000000023471520020129d2012 uf 0engur|n|---|||||txtccrMonetization in Low- and Middle-Income Countries /Noriaki Kinoshita, Cameron McLoughlin1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (25 p.)IMF Working PapersDescription based upon print version of record.9781475504651 1475504659 9781475587111 1475587112 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 institutionsManagementBank depositsimfBankingimfBanks and BankingimfBanks and bankingimfBanksimfDeflationimfDemand for MoneyimfDeposit ratesimfDepository InstitutionsimfFinanceimfFinance: GeneralimfFinancial Markets and the MacroeconomyimfFinancial marketsimfFinancial regulation and supervisionimfFinancial sector developmentimfFinancial sector reformimfFinancial services industryimfFinancial services law & regulationimfFinancial servicesimfGeneral Financial Markets: Government Policy and RegulationimfInflationimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfMacroeconomicsimfMicro Finance InstitutionsimfMonetary PolicyimfMortgagesimfPrice LevelimfPricesimfBangladeshimfMoneyFinancial institutionsManagement.Bank depositsBankingBanks and BankingBanks and bankingBanksDeflationDemand for MoneyDeposit ratesDepository InstitutionsFinanceFinance: GeneralFinancial Markets and the MacroeconomyFinancial marketsFinancial regulation and supervisionFinancial sector developmentFinancial sector reformFinancial services industryFinancial services law & regulationFinancial servicesGeneral Financial Markets: Government Policy and RegulationInflationInterest ratesInterest Rates: Determination, Term Structure, and EffectsMacroeconomicsMicro Finance InstitutionsMonetary PolicyMortgagesPrice LevelPrices332.1/52Kinoshita Noriaki1815850McLoughlin Cameron1816001International Monetary Fund.DcWaIMFBOOK9910975031703321Monetization in Low- and Middle-Income Countries4371640UNINA