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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... funding . But it might also suggest a greater propensity for speculative activity on the part of the larger banks themselves , borrowing from the federal funds market to finance their own purchases of securities . This latter hypothesis ...
... funds to finance this activity rises.12 11 While short - term interest rates normally fall during the upturn , reflecting an excess supply of funds , they can be expected eventually to rise . Central banks , in spite of Keynes ' ( C.W. ...
... funds approach : ' The financial factor can play an important role by increasing the efficiency of the transformation of savings into investment ' ( World Bank , 1991 , p . 122 ) . But this approach evades a number of important issues ...
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