Covariations in the currency ratio and the velocity of money in underdeveloped countries 1

This paper investigates the effects of various socioeconomic variables on fertility rates, with special reference to the United States. Most of the results are consistent with the earlier cross‐sectional results of Adelman, Drakatos, et. al. More specifically it appears that such socioeconomic variables as age structure, education, per capita income, population, density, and urbanization influence birth rates in both developing and developed countries. Both linear and logarithmic forms are used to estimate birth rates. In the final portions of the paper an attempt is made to reconcile those cases in which the results were not consistent with some of the earlier findings.