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. |
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Sheila C. Dow. words , strong local credit demand relative to the local credit base faces a higher rate of interest than the national rate , and ultimately a credit ceiling , while weak credit demand relative to the deposit base will go ...
... demand rather than supply conditions ; changes in output result from changes in autonomous elements of demand ... credit creation . But financial institutions are not simply passive in the face of demand for credit ; they too are ...
... credit function , because of higher expected default risk at any given interest rate . The demand for credit function will also , initially , shift to the right as demand for working capital and for credit to 106 Money and the Economic ...
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