01677cas a2200241 a 4500 AALejournalIMF010150 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451926316 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Toward a Growth-Oriented Model of Financial Programming. Washington, D.C. : International Monetary Fund, 1987. 1 online resource (62 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 This paper extends the basic monetary model that underlies the monetary approach to the balance of payments to allow for the endogenous determination of the short-run growth rate of the economy. In the extended model domestic credit expansion affects not only the balance of payments but also the output growth rate, which bears implications for the formulation of credit ceilings. Furthermore, the amount of external financing can influence both the output growth rate and the balance of payments outcome, unlike with the basic model. An integrated treatment of exchange rate adjustment involving both absorption and elasticity effects is provided. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1987/010 Full text available on IMF http://elibrary.imf.org/view/journals/001/1987/010/001.1987.issue-010-en.xml IMF e-Library