To sum up, significant increases in the monetary base neither gave rise to an equally significant rise in money stock nor inflation, let alone proportional increases. Financial systems would  3  See Nakakuki, Otani, and Shiratsuka (2004). 4  See Friedman (1970). 5  See Bordo and Filardo (2005).
Strong governments need to be peopled by those who can provide needed public goods – it requires expertise, motivation, and integrity. Realizing the importance of strong government, developing countries constantly request multilateral institutions for help in enhancing their governance capacity. Strong governments may not, however, move in the right direction.