Mutual Funds as an Alternative Banking System

Kenneth E. Scott

Journal of Institutional and Theoretical Economics (JITE), 1998, vol. 154, issue 1, 86-

Abstract: The paper examines some of the drawbacks of the existing banking system, from the standpoint of both the industry and the taxpayer, and the considers the possible role that mutual funds might play in an alternative banking system. In particular, the characteristics of money market funds are described, and they are evaluated as an alternative basis for a transaction account and payments transfer system.

JEL-codes: G2 K2 (search for similar items in EconPapers)
Date: 1998
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