Financial Integration in Europe : A post keynesian perspective
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XI, No.1-2, 2000, pages 21-39
Issue:
Pages:
21-39
Author:
Abstract:
The purpose of banking in a modern economy, and its contribution to economic development, are analysed with particular reference to financial integration within Europe, including Central and Eastern Europe. The stages of banking development framework is employed, and particular implications are drawn for integration between banking systems at differing stages of development. Attention is drawn to the issue of whether to focus on money or credit. Then the end-use of credit creation is considered, distinguishing between the financing of production and the financing of speculation. Finally, the volume and allocation of credit are considered in relation to economic development needs.
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Subject (LC):
Keywords:
banking, economic development, Europe
Notes:
JEL classification: E0
