Money and the Economic ProcessIn this important new book, Sheila Dow argues that money is integral to the economic process and that some common principles may be applied when analysing money's role at the regional, national and international levels. The importance of considering the spatial aspects of money's role has been highlighted by recent developments in Europe and elsewhere. Using a post Keynesian perspective, the first five chapters put forward a methodological and theoretical framework for a theory of money which combines endogenous credit creation and liquidity preference. The next five chapters analyse money's role in the economic process as it affects regional economies. The final two chapters adapt the theory in order to analyse finance and development in the international context, and as a basis for discussing possible international institutional reforms. Money and the Economic Process features some of Sheila Dow's most acclaimed articles and papers in this area, as well as including some new work which reveals the recent development of her thought. |
From inside the book
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... Periphery both for these reasons and also because of the lower rate of growth of local bank credit suggested by the earlier multiplier analysis . The expected market response would be an increase in interest rates or a reduction in ...
... Periphery of the type to offset pessimistic expectations encourages local banks to purchase only Periphery securities . The bank multiplier operates as before ( with the exclusion of a currency drain ) . Table 6.5 depicts the situation ...
... Periphery residents will be met by attempts to hold Centre assets , thereby further driving down the price of Periphery assets relative to that of Centre assets , and increasing the incidence of capital loss on them . The result is ...
Contents
Methodology and the Analysis of a Monetary Economy | 5 |
Money Supply Endogeneity | 21 |
The meaning of endogeneity within a theoretical | 27 |
Copyright | |
11 other sections not shown