IDEAS home Printed from
   My bibliography  Save this article

The new monetary and financial initiatives: Finance regaining its position as servant of the economy


  • Ansart, Sandrine
  • Monvoisin, Virginie


Alternative financial and monetary innovations constantly multiply. Following major financial crises, propositions abound in an attempt to build new monetary and financial tools that break with conventional approaches; the aim is to “do differently.” Rather than official institutions, it is the general public – through the creation of communities – that takes charge of the issue, and thus initiatives fall within a bottom-up approach. But even more striking than the fact that this phenomenon is driven by economic actors is that all these initiatives – these financial innovations – reveal and even embody a real challenge to the conventional financial system, and directly criticize its functioning. Indeed, all are carriers of messages, values, etc. Curiously, most of the critics do stress the reality of finance and rehabilitate it in its economic and social role: that of being the servant of the economy.

Suggested Citation

  • Ansart, Sandrine & Monvoisin, Virginie, 2017. "The new monetary and financial initiatives: Finance regaining its position as servant of the economy," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 750-760.
  • Handle: RePEc:eee:riibaf:v:39:y:2017:i:pb:p:750-760
    DOI: 10.1016/j.ribaf.2015.11.020

    Download full text from publisher

    File URL:
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Michel Aglietta & Pepita Ould Ahmed & Jean-François Ponsot, 2014. "La monnaie, la valeur et la règle : entretien avec Michel Aglietta," Post-Print halshs-01102139, HAL.
    2. L. Randall Wray, 2008. "Financial Markets Meltdown: What Can We Learn from Minsky," Economics Public Policy Brief Archive ppb_94, Levy Economics Institute.
    3. Alfred Kammer & Mohamed Norat & Marco Pinon & Ananthakrishnan Prasad & Christopher M Towe & Zeine Zeidane, 2015. "Islamic Finance; Opportunities, Challenges, and Policy Options," IMF Staff Discussion Notes 15/5, International Monetary Fund.
    4. Renneboog, Luc & Ter Horst, Jenke & Zhang, Chendi, 2008. "Socially responsible investments: Institutional aspects, performance, and investor behavior," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1723-1742, September.
    5. Jean Arcand & Enrico Berkes & Ugo Panizza, 2015. "Too much finance?," Journal of Economic Growth, Springer, vol. 20(2), pages 105-148, June.
    6. Jérôme Blanc, 2013. "La variété des monnaies citoyennes et leur place dans l'économie sociale et solidaire," Post-Print halshs-00875464, HAL.
    7. Demirguc-Kunt Asli & Klapper Leora & Randall Douglas, 2014. "Islamic Finance and Financial Inclusion: Measuring Use of and Demand for Formal Financial Services among Muslim Adults," Review of Middle East Economics and Finance, De Gruyter, vol. 10(2), pages 1-42, August.
    8. Jérôme Blanc & Marie Fare, 2012. "Les monnaies sociales en tant que dispositifs innovants : une évaluation," Innovations, De Boeck Université, vol. 0(2), pages 67-84.
    9. Jérôme Blanc, 2006. "Les monnaies sociales : un outil et ses limites. Introduction générale," Post-Print halshs-00085784, HAL.
    10. Sen, Sunanda, 2014. "Dominant Finance and Stagnant Economies," OUP Catalogue, Oxford University Press, number 9780198095415.
    11. Stodder, James, 2009. "Complementary credit networks and macroeconomic stability: Switzerland's Wirtschaftsring," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 79-95, October.
    12. Cottrell, Allin, 1994. "Post-Keynesian Monetary Economics," Cambridge Journal of Economics, Oxford University Press, vol. 18(6), pages 587-605, December.
    13. Ajay K. Agrawal & Christian Catalini & Avi Goldfarb, 2011. "The Geography of Crowdfunding," NBER Working Papers 16820, National Bureau of Economic Research, Inc.
    14. Virginie Monvoisin, 2013. "What's the use of banks, especially after the crisis?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(2), pages 195-209, January.
    15. Ali, Robleh & Barrdear, John & Clews, Roger & Southgate, James, 2014. "Innovations in payment technologies and the emergence of digital currencies," Bank of England Quarterly Bulletin, Bank of England, vol. 54(3), pages 262-275.
    16. Aglietta, Michel & Ahmed, Pepita Ould & Ponsot, Jean-François, 2014. "La monnaie, la valeur et la règle," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 16.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Batuo, Michael & Mlambo, Kupukile & Asongu, Simplice, 2018. "Linkages between financial development, financial instability, financial liberalisation and economic growth in Africa," Research in International Business and Finance, Elsevier, vol. 45(C), pages 168-179.

    More about this item


    Alternative finance; Credit; Production; Bank;


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:39:y:2017:i:pb:p:750-760. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.