Money and the economic process. . . a clear expression of post Keynesian monetary thought in response to the recent economic developments at the regional, national, and international level. Paul Mizen, The Economic Journal In 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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Page 47
Then, as long as entrepreneurs anticipate higher yields from investment, they
may continue to borrow from the banks. But suppose speculators are also
engaged in borrowing to finance purchase of financial assets. If their demand is
directed ...
Then, as long as entrepreneurs anticipate higher yields from investment, they
may continue to borrow from the banks. But suppose speculators are also
engaged in borrowing to finance purchase of financial assets. If their demand is
directed ...
Page 50
only will the degree of crowding out of any one class of borrower be limited, but
also the banks will identify their interests closely with the long-term viability of the
domestic economy. But openness extends the range of choice so that liquidity ...
only will the degree of crowding out of any one class of borrower be limited, but
also the banks will identify their interests closely with the long-term viability of the
domestic economy. But openness extends the range of choice so that liquidity ...
Page 51
... conventionally are a reflection of perceived risk differentials, although the
identification is problematic (see Kenen, 1976; see also Feder and Just, 1977, for
an econometric analysis of interest rate differentials in Euro-currency borrowing).
... conventionally are a reflection of perceived risk differentials, although the
identification is problematic (see Kenen, 1976; see also Feder and Just, 1977, for
an econometric analysis of interest rate differentials in Euro-currency borrowing).
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Contents
Methodology and the Analysis of a Monetary Economy | 5 |
List of Figures and Tables | 17 |
Money Supply Endogeneity | 26 |
Copyright | |
14 other sections not shown
Other editions - View all
Common terms and phrases
activity adjustment analysis asset prices availability of credit balance of payments bank multiplier banking system behaviour borrowing branch banking business cycle capital account capital flight capital flows capital outflows central bank Centre changes Chapter confidence constraints context credit creation debt crisis deficit demand for credit demand for money dependency theory deposits developing countries effect endogenous entrepreneurial equilibrium Euro-currency market European central bank example exchange rate exogenous expansion expenditure export factors financial assets financial institutions financial markets Fishkind fixed exchange rate foreign exchange framework funds further growth important income increase inflows injection interest rate international financial system investment Keynes Keynesian theory lending liabilities liquidity preference long-run monetarist monetary authorities monetary base money supply non-bank orthodox particular payments problems Periphery portfolio Post Keynesian private sector production reduced regional development regional economics relative reserves role short-run speculative structure supply of credit theoretical trade transactions uncertainty
Bibliographic information
| Title | Money and the economic process |
| Author | Sheila C. Dow |
| Edition | illustrated |
| Publisher | E. Elgar, 1993 |
| ISBN | 1852785667, 9781852785666 |
| Length | 219 pages |
| Subjects | › › Business & Economics / Economics / General Business & Economics / General Business & Economics / Money & Monetary Policy Monetary policy Money |
| Export Citation | BiBTeX EndNote RefMan |