Research Catalog

Title

Monetary economics in developing countries / Subrata Ghatak and José R. Sánchez-Fung.

Author

Ghatak, Subrata, 1939-2012

Publication

Basingstoke : Palgrave Macmillan, 2007.

Items in the Library & Off-site

Holdings

Details

Additional Authors

Sánchez-Fung, José Roberto.

Description

xv, 302 p. : ill.; 24 cm.

Summary

"This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated and written in an accessible style, it will be an attractive to students wanting to understand the economic aspects of development and those researching in the area The new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and examination of the role and future of financial institutions, such as the World Bank and the Iinternational Monetary Fund."--Publisher's description.

Subject

• Money > Developing countries
• Monetary policy > Developing countries
• Monetaire politiek
• BUSINESS & ECONOMICS > Finance
• Monetary policy
• Money
• Monnaie > Pays en voie de développement
• Politique monétaire > Pays en voie de développement
• Économie monétaire > Pays en voie de développement
• Ontwikkelingslanden

Bibliography (note)

• Includes bibliographical references (p. 255-289) and index.

Processing Action (note)

• committed to retain

Contents

1. Introduction -- 1.1. What the book is about -- 1.2. overview of the book -- 1.3. Developing countries' idiosyncrasies -- 1.4. Some stylized facts -- 2. Finance, growth and development -- 2.1. Introduction -- 2.2. Financial intermediaries -- 2.3. Law and finance -- 2.4. Banking regulation and supervision -- 2.5. Empirical evidence on finance and growth -- 3. Rural financial institutions -- 3.1. Unorganized money markets in developing countries, and some consequences -- 3.2. Determination of rural interest rates in developing countries -- 3.3. evaluation -- 3.4. Policies for an integrated development of rural financial markets in developing countries -- 3.5. Rural money markets and implications for monetary policy -- 3.6. Stiglitz and Weiss's (1981) credit rationing model -- 3.7. Overcoming adverse selection problems -- 4. Theories of money and economic growth -- 4.1. simple Harrod-Domar growth model -- 4.2. neo-classical growth model -- 4.3. Money in a neo-classical growth model: the Tobin model -- 4.4. Problems in the application of neo-classical monetary growth theory to developing countries -- 4.5. Economic growth and the role of financial intermediaries -- 4.6. Gurley-Shaw model -- 4.7. Economic development and 'financial accumulation' -- 4.8. Financial repression and economic growth: the McKinnon and Shaw model -- 4.9. neo-structuralist view of monetary growth and development: van Wijnbergen-Taylor model -- 5. Keynesian and monetarist views on the importance of money -- 5.1. classical view -- 5.2. Keynesian theory -- 5.3. Money and the interest rate -- 5.4. general equilibrium approach: the Hicksian IS-LM curves -- 5.5. Monetary and fiscal policy -- 5.6. monetarists' case -- 5.7. Special characteristics of developing countries -- 6. Money demand -- 6.1. Introduction -- 6.2. Theoretical models -- 6.3. Empirical models -- 6.4. Specifying money demand functions -- 6.5. Modelling empirical money demand -- Appendix 6.1. Demand for money in India / Anita Ghatak -- Appendix 6.2. Exploring the role of alternative ancillary variables in China's money demand / Anita Ghatak and Qing Zhang -- 7. Monetary institutions in developing countries -- 7.1. central bank and its functions -- 7.2. commercial banks: the creation of bank deposits -- 7.3. changing pattern of commercial banking in developing countries -- 7.4. Central bank independence -- 7.5. Central banking in the 'Bank of England Group' of developing countries -- 8. Monetary policy transmission, rules and strategies -- 8.1. Introduction -- 8.2. transmission mechanism of monetary policy -- 8.3. Monetary policy reaction functions -- 8.4. Monetary policy frameworks -- 8.5. Some developments in fiscal policy analysis -- 8.6. Conclusion -- 9. Money, inflation and growth -- 9.1. causes of inflation -- 9.2. effects on inflation on growth -- 9.3. case against inflation -- 9.4. Major problems and policies for stabilization in developing countries -- Appendix 9.1. Phillips curve -- Appendix 9.2. model of inflation generation and stabilization -- 10. Exchange rate policy -- 10.1. Does the exchange rate matter? -- l0.2. Fixed exchange rates -- 10.3. Real exchange rate targeting and PPP rules -- 10.4. Fear of floating -- 10.5. Classifying exchange rate regimes -- 11. Debt and crises -- 11.1. Developing countries' borrowing before 1973 -- 11.2. Debt problems after 1973 -- 11.3. Benefits and costs of default theory -- 11.4. Application of the model to the debt crisis of 1982 -- 11.5. Managing the debt crisis -- 11.6. Policy responses to the debt crisis of 1982 -- 11.7. International Monetary Fund's and the World Bank's Heavily Indebted Poor Countries (HIPC) initiative -- 11.8. Financial crises in the 1990s -- 11.9. Sudden stops -- 11.10. Theoretical models -- 11.11. Balance sheets, liability dollarization and monetary policy -- 11.12. Preventing crises, and early warning systems (EWS) -- Appendix 11.1. small model of India (with Paul Levine) -- 12. international financial institutions -- 12.1. Introduction -- 12.2. need for international monetary reserves -- 12.3. exchange rate and the need for reserves -- 12.4. Problems of international liquidity -- 12.5. nature and role of SDRs -- 12.6. Extended Fund Facility -- 12.7. Trust Fund -- 12.8. Reforming the IMF -- 12.9. Measuring the impact of IMF programmes on economic performance.

ISBN

• 9780230003330 (hbk.)
• 0230003338 (hbk.)
• 0230003346 (pbk.)
• 9780230003347 (pbk.)

OCLC

• 81453656
• SCSB-11404760

Owning Institutions

Harvard Library