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Allocation of Bank Credit

In: Banking and Currency in Hong Kong

Author

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  • Y. C. Jao

    (University of Hong kong)

Abstract

Of the many functions of commercial banks it is the provision of credit that has the most direct bearing on the real growth of the economy. The banking system acts as the intermediary which channels financial resources from savers to entrepreneurs who organise the productive processes that add to the real output. But the banks’ role is not limited to the production side only. Retail merchants for example are no less in need of bank credit to finance the distribution of final goods Similarly consumers require bank assistance in acquiring durable goods on hire-purchase basis. In a credit economy the banks are involved in every stage of the circular flow of goods and services, from their first production through distribution to their final consumption.

Suggested Citation

  • Y. C. Jao, 1974. "Allocation of Bank Credit," Palgrave Macmillan Books, in: Banking and Currency in Hong Kong, chapter 8, pages 201-234, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02199-4_8
    DOI: 10.1007/978-1-349-02199-4_8
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