Money in Finance

L. Randall Wray

Economics Working Paper Archive from Levy Economics Institute

Abstract: This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial crisis, which could be blamed on excessive financialization of the economy.

Keywords: Money; Money of Account; Finance; Financial Instruments; Financial Institutions; Financial Innovation; Financialization; Liquidity; Saving; State Money; Chartalism; Shadow Bank; Hyman Minsky; Securitization; Robert Clower (search for similar items in EconPapers)
JEL-codes: B14 B15 B22 B52 E12 E40 E42 E50 E51 E52 G14 G21 (search for similar items in EconPapers)
Date: 2011-03
New Economics Papers: this item is included in nep-ban, nep-cba, nep-hme, nep-mon and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Chapter: Money in finance (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:lev:wrkpap:wp_656

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