Seigniorage Earnings of Commercial Banks and State Bank of Pakistan
AbstractThe paper reviews the trend of seigniorage earnings by State Bank of Pakistan and commercial banks. It is found that seigniorage revenue of the SBP has declined overtime which indicates autonomy of the central bank as well as less reliance of the government on SBP’s resources for budget financing. In general, a direct relationship has been observed between seigniorage and inflation in Pakistan. However, at the two extremes of very high or very low inflation an inverse relation is detected.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 4955.
Date of creation: Apr 2006
Date of revision:
seigniorage; Inflation Tax; Pakistan;
Find related papers by JEL classification:
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
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Elsevier, vol. 29(3), pages 389-410, June.
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