LEADER 05572oam 22013094 450 001 9910785526503321 005 20230801224006.0 010 $a1-4755-4184-8 010 $a1-4755-8317-6 035 $a(CKB)2670000000234715 035 $a(EBL)1606808 035 $a(SSID)ssj0000942926 035 $a(PQKBManifestationID)11505573 035 $a(PQKBTitleCode)TC0000942926 035 $a(PQKBWorkID)10974935 035 $a(PQKB)11380077 035 $a(MiAaPQ)EBC1606808 035 $a(Au-PeEL)EBL1606808 035 $a(CaPaEBR)ebr10590647 035 $a(OCoLC)796677552 035 $a(IMF)WPIEE2012160 035 $a(IMF)WPIEA2012160 035 $a(EXLCZ)992670000000234715 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aMonetization in Low- and Middle-Income Countries /$fNoriaki Kinoshita, Cameron McLoughlin 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (25 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4755-0465-9 311 $a1-4755-8711-2 320 $aIncludes bibliographical references. 327 $aCover; 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 Correlations 327 $a5. Main Results: Multivariate RegressionsData Appendix Tables; A.1. Low-and Middle-Income Countries; A.2. Data Sources; References 330 3 $aThe degree of an economy?s monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP-- in low- to middle-income countries is significantly correlated with per-capita GDP, real interest rates, and financial sector reform. It suggests that maintaining an upward momentum in monetization can be an important policy objective, particularly for low-income countries, and that monetary and financial sector policies need to be conducive to enhancing monetization. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/160 606 $aMoney$zDeveloping countries 606 $aFinancial institutions$xManagement 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aInflation$2imf 606 $aDemand for Money$2imf 606 $aMonetary Policy$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aPrice Level$2imf 606 $aDeflation$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aFinancial services law & regulation$2imf 606 $aMacroeconomics$2imf 606 $aDeposit rates$2imf 606 $aFinancial sector development$2imf 606 $aBank deposits$2imf 606 $aFinancial sector reform$2imf 606 $aFinancial services$2imf 606 $aFinancial markets$2imf 606 $aFinancial regulation and supervision$2imf 606 $aPrices$2imf 606 $aFinancial services industry$2imf 606 $aInterest rates$2imf 606 $aBanks and banking$2imf 607 $aBangladesh$2imf 615 0$aMoney 615 0$aFinancial institutions$xManagement. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aInflation 615 7$aDemand for Money 615 7$aMonetary Policy 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aFinancial Markets and the Macroeconomy 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aPrice Level 615 7$aDeflation 615 7$aFinance 615 7$aBanking 615 7$aFinancial services law & regulation 615 7$aMacroeconomics 615 7$aDeposit rates 615 7$aFinancial sector development 615 7$aBank deposits 615 7$aFinancial sector reform 615 7$aFinancial services 615 7$aFinancial markets 615 7$aFinancial regulation and supervision 615 7$aPrices 615 7$aFinancial services industry 615 7$aInterest rates 615 7$aBanks and banking 700 $aKinoshita$b Noriaki$01509568 701 $aMcLoughlin$b Cameron$01556425 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910785526503321 996 $aMonetization in Low- and Middle-Income Countries$93819105 997 $aUNINA