Broad Money Supply Growth in Western and Asian Advanced Economies (1980–2023)

The GDP PPP-weighted money supply index of Asian advanced economies, including Hong Kong, Japan, Singapore South Korea, and Taiwan, experienced a growth rate approximately 50% higher than that of Western advanced economies, comprising Australia, Canada, the Euro Area, Switzerland, the United Kingdom, and the United States, from 1980 to the late 1990s. Throughout the 2010s, this index in Western and Asian advanced economies converged. However, since the onset of the pandemic, it has surpassed that of Asian advanced economies in Western ones.