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Looking at the development of a country’s international specialization through the lens of money

Author

Listed:
  • Aleksej Igorevich Rej

    (The Institute of Applied Economic Research at the Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia)

Abstract

The review acquaints the reader with a book by M.A. Portnoy published in 2017 that offers anew approach to the analysis of money as an economic phenomenon. The reviewed monograph tracks the evolution of money from “material trade-based” to “symbolic credit-based” and links the progress of the financial system with changes in the functions of money. Distinction between“patronage” and “market” credit made in the book sheds new light on the ongoing debate on the optimal financial structure for the economy. The concept of stages of a country's integration in to the world economy linking it to the development of money and monetary flows, measured by the country's balance of payments, is of particular importance for experts in international economics.The book is recommended for practitioners, researchers, economics educators, students, post-graduates, and the general public.

Suggested Citation

  • Aleksej Igorevich Rej, 2018. "Looking at the development of a country’s international specialization through the lens of money," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 1, pages 99-105, January.
    • Handle: RePEc:alq:rufejo:rfej_2018_01_99-105
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