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Explaining the behavior of financial intermediation : evidence from transition economies

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Explaining the Behavior of Financial Intermediation : Evidence From Transition Economies

Rother, Philipp C. - 1999

This paper investigates the effects of macroeconomic and structural variables on financial intermediation. To this end, it presents a theoretical foundation for two new measures of intermediation, the money multiplier and the ratio of private sector credit to monetary base. Results from panel...