The Impact of Multinational Banking on Domestic Banking

Claude Gnos and Louis-Philippe Rochon

Chapter 11 in Financial Developments in National and International Markets, 2006, pp 176-189 from Palgrave Macmillan

Abstract: 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.

Keywords: Banking System; Foreign Ownership; Foreign Bank; Local Bank; Financial Liberalization (search for similar items in EconPapers)
Date: 2006
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Working Paper: The impact of multinational banking on domestic banking (2006)
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DOI: 10.1057/9780230522374_11

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