01925cas a2200241 a 4500 AALejournalIMF002180 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851083 1018-5941 BD-DhAAL BD-DhAAL Hamann, A. Financial Liberalization and the Information Content of Money in Indonesia, Korea, and the Philippines / A. Hamann. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (44 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Using a VAR approach, this paper studies the relationship between money, output, and prices in a group of Pacific Basin countries that underwent financial sector reform during the 1980s: Indonesia, Korea, and the Philippines. Special attention is paid to assessing the information content of money. Money was found to contain valuable advance information on output and prices in Korea, on prices only in the Philippines, and did not contain any advance information in Indonesia. The introduction of financial sector reform was not found to lead to a structural break in the price and output equations; however, the information content of money was affected. Further tests show that exchange and interest rates-variables that gained flexibility with the reforms-contain valuable information about future developments in prices in Korea and the Philippines. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1993/088 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/088/001.1993.issue-088-en.xml IMF e-Library