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Africa > Uganda

You are looking at 1 - 1 of 1 items for :

  • Type: Journal Issue x
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Cover IMF Working Papers
Monetization in Low- and Middle-Income Countries
Mr. Noriaki Kinoshita
and
Mr. Cameron McLoughlin
The 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.
Keywords:
WP; monetization; monetization ratio; rate; GDP; Financial Sector Reform; Low- and Middle-Income Countries; inflation expectation; central bank financing; monetization experience; influence monetization; monetization outcome; Deposit rates; Financial sector development; Bank deposits; Inflation; Sub-Saharan Africa