THE TREATMENT OF MONEY IN REGIONAL ECONOMICS
作者:
Sheila C. Dow,
期刊:
Journal of Regional Science
(WILEY Available online 1987)
卷期:
Volume 27,
issue 1
页码: 13-24
ISSN:0022-4146
年代: 1987
DOI:10.1111/j.1467-9787.1987.tb01141.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
ABSTRACT.A survey of regional monetary theory suggests a regional segmentation of financial markets on the basis of differences in portfolio preference, or market imperfections. These possibilities are explored here using post‐Keynesian monetary theory. It is concluded that the availability of credit to a region depends more on the (potentially volatile) degree of confidence in the regional economy. The amount of liquidity thus generated depends on the propensity for capital flight due to liquidity preference. The resulting tendency for regions attracting low degrees of confidence to experience liquidity shortage will be greater the more integrated the national banking syste
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