Financial Money

George Pantelopoulos ()
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George Pantelopoulos: The University of Newcastle

Chapter Chapter 4 in Between Payments and Credit, 2025, pp 57-68 from Springer

Abstract: Abstract Several key concepts that underpin contemporary credit relationships and payments are disseminated in this chapter: notably the notion of settlement with novation. A system of financial accounts then unpacks how early deposit-taking banks in combination with bills of exchange facilitated economic activity. The final section of the chapter argues that while single-layered financial money systems are superior to commodity money systems (with or without non-deposit taking banks), early deposit-taking banks were problematic as they proved to be inherently unstable.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-5384-3_4

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DOI: 10.1007/978-981-96-5384-3_4

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