This is the first international comparative, empirical study of the money supply process (MSP) that involves all of the basic types of economies and institutional economic systems at all levels of economic development. The comparative approach adopted bythe authors enables them to explain the differences that do occur in the MSP across economies and what causes them. By properly defining the general theory and overall monetary theory of the MSP, the authors offer the reader both a better understanding of national MSP and a broad framework of possibilities for improving the efficiency of monetary policy.

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