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The Impact of Multinational Banking on Domestic Banking

In: Financial Developments in National and International Markets

Author

Listed:
  • Claude Gnos
  • Louis-Philippe Rochon

Abstract

Post-Keynesians have made endogenous money a central argument in their theory of output. Indeed, production cannot be undertaken if access to finance, usually meaning bank credit, does not exist. Such access is needed if wages are to be paid, and inputs of production purchased. In a monetary economy, therefore, money is created at the demand of borrowers, supplied by banks.

Suggested Citation

  • Claude Gnos & Louis-Philippe Rochon, 2006. "The Impact of Multinational Banking on Domestic Banking," Palgrave Macmillan Books, in: Philip Arestis & Jesus Ferreiro & Felipe Serrano (ed.), Financial Developments in National and International Markets, chapter 11, pages 176-189, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52237-4_11
    DOI: 10.1057/9780230522374_11
    as

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