The blind spot of endogenous money: global banking and the Eurodollar market

Rudy Bouguelli
Additional contact information
Rudy Bouguelli: LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité

Post-Print from HAL

Abstract: Global banks play a crucial role in the international monetary and financial system. However, they pose ongoing challenges for both mainstream and heterodox economists. This paper provides a critical examination of the global banking literature. As such, it shows how the interpretation put forward by economists at the BIS has evolved over time. It argues that in spite of its increasing sophistication, it remains anchored in the loanable funds approach. The paper also highlights a significant gap in the heterodox literature. It demonstrates that post-Keynesians have yet to develop a satisfactory alternative based on the theory of endogenous money. The paper concludes by drawing attention to the pressing need for such an alternative.

Date: 2025-05-23
References: Add references at CitEc
Citations:

Published in Cambridge Journal of Economics, 2025, ⟨10.1093/cje/beaf013⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05084171

DOI: 10.1093/cje/beaf013

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().