Money and monetary policy in less developed countries : a survey of issues and evidence / edited by Warren L. Coats and Deena R. Khatkhate.

Preface, xi -- Acknowledgements, xiii -- I. Money and Monetary Policy in Less Developed Countries -- Survey of Issues and Evidence / by Warren L. Coats, Jr. and Deena R. Khatkhate, 3 -- II. Money, Finance, and Economic Development -- 1. Trie Role of Money in the development Process. Financial Development and Economic Growth in Underdeveloped Countries / By Hugh T. Patrick, 37 -- The Promotion of the "Banking Habit" and Economic Development / by Richard C. Porter, 55 -- Financial Intermediation and Economic Growth in Less Developed Countries: A Theoretical Approach / by Vicente Galbis, 71 -- Production and flonetization in the Subsistence Sector / by J. Borpujari, 85 -- The Velocity of Money and Per Capita Income in Developing Economies: Malaysia and Singapore / by Brock K. Short, 95 -- Honey and Capital or Financial Deepening in Economic Developments? / by Maxwell J. Fry, 107 -- Some Aspects of Financial Policies and Central Banking in Developing Countries / by V. V. Bhatt, 115 -- List of Recommended Readings, 129 -- 2. Monetary Policy Formulation and Objectives Analytic Basis of the Working of Monetary Policy in Less Developed Countries / by Deena R. Khatkhate, 131 -- A Primer on Inflation / by Arnold C. Harberger, 149 -- The Efficacy of Monetary Rules for- LDCs / by Warren L. Coats, Jr., 165 -- Recent Evolution of Monetary Policy in India / by V. G. Pendharkar and M. Narasimham, 183 -- List of Recommended Readings, 209 -- III. Implementation of Monetary Policy: Instruments and Techniques -- 1. Monetary Aggregates, 211 -- (a) Definition of money Cross Country Inflation Evidence of the Moneyness of Time Deposits / by John Conlisk, 213 -- Time Deposits in the Definition of Money: Further Cross Country Inflation Evidence / by D. P. Villanueva and N. S. Arya, 221 -- List of Recommended Readings, 225 -- (b) Demand for money Monetization of Developing Countries / by Anand G. Chandavarkar, 227 -- Effects of Banking Development on the Demand for Money / by Bijan Aghevli, 241 -- The Demand for Money: Evidence from Developed and Less Developed Economies / by Joseph O. Adekunle, 255 -- The Demand for Money and Its Components in Argentina: Annual Estimations 1935-69 / by Tomas J. T. Balino, 279 -- Black-Market Exchange-Rate Expectations and the Domestic Demand for Money: Some Empirical Results / by Mario I. Blejer, 299 -- Variable Expectations and the Demand for Money in High Inflation Countries by Mohsin S. Khan, 307 -- List of Recommended Readings, 327 -- (c) Money supply process. The bility of the Monetary Authorities to Control the Stock of Money in LDCs / by Yung Chul Park, 329 -- A Money Multiplier Model for a Developing Economy: The Venezuelan Case By Deena R. Khatkhate, V. G. Galbis and D. P. Villanueva, 335 -- Government deficits and the inflationary process in developing countries / by Bijan B. Aghvli and Mohsin S. Khan, 347 -- Money supply implications of comercial Banks’ financing of govenment debt in developing countries / by Warren L. Coats, Jr. and Deena R. Khatkhate, 371 -- List of recommended readings, 385 -- (d) Instruments of control Narrow Security Markets and Monetary Policy: Lessons from Pakistan / by Richard C. Porter, 387 -- The Use of Reserve Requirements in Developing Countries / by Warren L. Coats, Jr., 401 -- Central Bank Policies and Inflation: A Case Study of Four Less Developed Economies, 1949-57 / by J. Ahrensdorf, 423 -- Monetary Control when Demand for Cash is Unpredictable: A Proposal for Stabilizing the Money Multiplier in Portugal / by Maxwell J. Fry, 441 -- List of Recommended Readings, 448 -- 2. Other policy instruments -- (a) Interest rates Interest Rate Determination in Underdeveloped Rural Areas / by Anthony Bottomley, 449 -- On the Formation of Usurious Interest Rates in Backward Agriculture / by Amit Bhaduri, 465 -- Interest Rates and the Structure of Agricultural Credit Markets / by Mi Hard Long, 479 -- Some Aspects of Interest Rate Policies in Less Developed Economies: The Experience of Selected Asian Countries / by Anand G. Chandavarkar, 491 -- A Revisit to Interest Rates Outside the Organized Money Markets of Underdeveloped Countries / by U Tun Wai, 531 -- List of Recommended Readings, 548 -- (b) Selective credit controls -- Credit Controls as Instruments of Development Policy in the Light of Economic Theory / by Omotunde E. G. Johnson, 549 -- Selective Credit Controls in Underdeveloped Economies / by I. G. Patel, 561 -- Saving and Flow of Funds Analysis: A Tool for Financial Planning in India / by V. V. Bhatt, 571 -- Operation of Selective Credit Policies in Less Developed Countries: Certain Critical Issues / by Deena R. Khatkhate and D. P. Villanueva, 589 -- Farm Size and Credit Policy / by C. H. Hanumantha Rao, 605 -- Credit Planning in India: Its Rationale and Content / by M. Narasimham, 617 -- List of Recommended Readings, 629 -- (c) Exchange rates The Exchange Rate as an Instrument of Policy in a Developing Country / by Omotunde E. G. Johnson, 631 -- Exchange Rate Policies for Developing Countries / by Andrew B. Crockett and Saleh M. Nsouli, 643 -- List of Recommended Readings, 661 -- IV. Econometric Policy Models, 663 -- What Kind of Macroeconometric Model for Developing Economies? / by Larry R. Klein, 665 -- Toward a Monetary Model for Developing Countries / by Yung Chul Park, 665 -- Credit Policy and the Balance of Payments in Developing Countries / by Bijan B. Aghevli and Mohsin S, Khan, 675 -- An Analysis of Price and Output Behavior in the Indian Economy: 1951-73 / by Isher J. Ahluwalia, 713 -- A Semiannual Macroeconometric Model of the Philippines, 1967-76 / by D. P. Villanueva, 739 -- List of Recommended Readings, 762 -- Bibliography, 763 -- Index, 811.