MONEY AND THE ECONOMIC PROCESS
Published on 1. January 1993
Book
Hardback
232 pages
978-1-85278-566-6 (ISBN)
Description
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.
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.
Reviews / Votes
'. . . 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 JournalMore details
Language
English
Place of publication
Cheltenham
United Kingdom
Target group
College/higher education
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-1-85278-566-6 (9781852785666)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Person
Sheila C. Dow, Emeritus Professor of Economics, University of Stirling, UK
Content
Part 1 Methodology and the analysis of a monetary economy: the significance of the methodological framework; the different methodological bases of post Keynesian and orthodox economics; money, uncertainty and historical time. Part 2 Money supply endogeneity: the meaning of endogeneity with a theoretical framework; the meaning of endogeneity "in reality"; money supply endogeneity and the business cycle. Part 3 Speculation and the monetary circuit with particular attention to the Euro-currency market; speculation - some textual and definitional analysis; the implications of credit-financed speculation; the Euro-currency market. Part 4 Post Keynesian monetary theory for an open economy: the monetarist and global monetarist theory of money and the business cycle; a Keynesian theory of money and the business cycle in a closed economy; a Keynesian theory of money and the business cycle in an open economy. Part 5 The regional composition of the Bank multiplier process; bank multipliers; regional bank multipliers with interregional transactions; the long-run stock equilibrium position; the multiplier process in the short-run; the bank multiplier in the short-run with income adjustment; regional bank multipliers with a national banking system. Part 6 The treatment of money in regional economics: from Beare to Moore and Hill; a Keynesian theory of regional financial markets. Part 7 Incorporating money in regional economic models: the macroeconomic significance of money; money and regional economics; money in a post Keynesian regional model. Part 8 The capital account and regional balance of payments problems: the balance of payments of a region; regional balance of payments problems; the capital account; data considerations. Part 9 Money and regional development: the state of the art on money and regional development; a theory of money and regional development - a paradox of liquidity; the Canadian case. Part 10 Money and the pattern of international development: distinguishing the international context from the regional context; the finance and development literature; liquidity preference; the endogeneity of credit supply; the debt crisis and capital flight; banking structure and economic development. Part 11 The international financial system - institutional arrangements: the international financial system; the role of the state; problems and plans for reform; European monetary union.