Khatkhate, Deena R.; Galbis, Vicente G.; Villanueva, … - In: IMF Staff Papers 21 (1974) 3, pp. 740-757
This paper analyzes the determinants of the money multiplier in an open developing economy with a fixed exchange rate, using that of Venezuela as an illustration. The openness of the Venezuelan economy, in which investment activity can be financed either by domestic or by foreign borrowing...