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Structural Change in the British Financial System

In: Reflections on Money

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  • David T. Llewellyn

Abstract

A different perspective is taken in this chapter. While the other contributions consider various aspects of ‘money’ and credit, the focus here is on two related aspects of the British financial system: the major changes in its structure that have been a feature of the 1980s, and the acceleration in the pace of financial innovation. Both are pertinent to the theme of this volume, and after considering their nature and implications, their relevance for money and credit are highlighted. The focus is upon financial innovation and the nature of structural change in the British financial system as a whole rather than a detailed discussion of particular subsectors such as building societies, the stock exchange, etc. In particular three aspects of the subject are considered: the precise nature of structural change and financial innovation, the forces producing these changes, and their implications.

Suggested Citation

  • David T. Llewellyn, 1989. "Structural Change in the British Financial System," Palgrave Macmillan Books, in: David T. Llewellyn (ed.), Reflections on Money, chapter 6, pages 109-137, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-20458-8_6
    DOI: 10.1007/978-1-349-20458-8_6
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