MONETIZATION, ECONOMIC DEVELOPMENT AND THE DEMAND FOR MONEY.
The article presents a modest contribution towards an understanding of the appropriate demand for money function for a developing economy with a shrinking barter sector. It also tries to estimate its degree of stability. Post-war annual data has been used which takes into account the special aspects...
| Publicado en: | Review of Economics & Statistics Vol. 60; no. 4; pp. 614 - 619 |
|---|---|
| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
MIT Press
Nov78
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4645204&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4645204 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346535 RMS jtl: Review of Economics & Statistics issn: 00346535 maglogo: N pubinfo: dt: Nov78 vid: 60 iid: 4 pid: 776 pub: MIT Press artinfo: ui: 4645204 10.2307/1924256 ppf: 614 ppct: 5 formats: tig: atl: MONETIZATION, ECONOMIC DEVELOPMENT AND THE DEMAND FOR MONEY. aug: au: Laumas, Prem S. affil: Northern Illinois University. su: Agricultural economics Agricultural productivity Gross national product Agriculture Demand for money India sug: subj: India Agricultural economics Agricultural productivity Gross national product Agriculture Demand for money ab: The article presents a modest contribution towards an understanding of the appropriate demand for money function for a developing economy with a shrinking barter sector. It also tries to estimate its degree of stability. Post-war annual data has been used which takes into account the special aspects of the Indian economy. During the period under study a significant proportion of income originated in the barter sector. Thus in 1950-51 a little over a third of India's Gross National Product originated in the barter sector. By 1965-66 the monetized sector began to contribute as much as 85% of the gross national product. It is well known that the most significant component of the non-monetized sector in India is agriculture. Agricultural production in such an economy is known to fluctuate erratically. Fluctuations in agricultural income could cause a great deal of instability in income velocity. In view of this, the relevant concept of income in a study of the demand for money for India is that portion of total income, which is derived from the monetized sector of the economy. A major concern of this study is to test the stability of the demand for money function in the above context by using a fairly robust technique that permits parameters to vary. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1978 holdings: @attributes: islocal: N |
|---|