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This text proposes that "money does matter for monetary policy purposes" for ten SEACEN (South East Asian Central Banks) countries investigated: Indonesia, Malaysia, Myanmar, Nepal, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, and Thailand. Despite the financial liberalization that is underway, the author finds evidence that the money aggregates - both the Simple-sum and Divisia aggregates - have close relationships with both the price level and nominal income. This suggests that they are appropriate intermediate indicators. The book concludes that an important policy implication for these countries is that the use of monetary aggregates as indicators for monetary policy can be effective in the presence of liquidity constraints. It points out that since financial liberalization has not weakened the relationship between monetary aggregates and income in the Asian developing countries, the use of monetary aggregates to predict future growth in income will be effective.