IDEAS home Printed from https://ideas.repec.org/a/taf/eujhet/v16y2009i2p325-356.html

Schumpeter on money, banking and finance: an institutionalist perspective

Author

Listed:
  • Agnes Festre
  • Eric Nasica

Abstract

In this paper we provide an institutional interpretation of Schumpeter's analysis of money, banking and finance. We justify this interpretation by considering first Schumpeter's overall methodological perspective, in particular the role played by economic sociology in his approach, and second by showing that the way Schumpeter describes the successive steps of economic development - circular flow, steady state and development - provides a good illustration of how institutional change is progressively introduced into his analytical framework and of the leading role of the banking system in the overall evolution of the financial system.

Suggested Citation

  • Agnes Festre & Eric Nasica, 2009. "Schumpeter on money, banking and finance: an institutionalist perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(2), pages 325-356.
    • Handle: RePEc:taf:eujhet:v:16:y:2009:i:2:p:325-356
    DOI: 10.1080/09672560902891101
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09672560902891101
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09672560902891101?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or

    for a different version of it.

    Other versions of this item:

    Citations

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


    Cited by:

    1. Lorenzo Esposito & Giuseppe Mastromatteo, "undated". "In the Long Run We Are All Herd: On the Nature and Outcomes of the Beauty Contest," Economics Working Paper Archive wp_972, Levy Economics Institute.
    2. Festré, Agnès & Garrouste, Pierre, 2016. "Wieser As A Theorist Of Institutional Change," Journal of the History of Economic Thought, Cambridge University Press, vol. 38(4), pages 463-483, December.
    3. Servaas Storm, 2018. "Financialization and Economic Development: A Debate on the Social Efficiency of Modern Finance," Development and Change, International Institute of Social Studies, vol. 49(2), pages 302-329, March.
    4. Lambert, Thomas & Velardo, Tristan, 2019. "Schumpeter, the Banking System, and Innovation: Small versus Big Business," MPRA Paper 97742, University Library of Munich, Germany.
    5. Mário Graça Moura, 2017. "Schumpeter and the meanings of rationality," Journal of Evolutionary Economics, Springer, vol. 27(1), pages 115-138, January.
    6. Callegari, Beniamino & Nybakk, Erlend, 2022. "Schumpeterian theory and research on forestry innovation and entrepreneurship: The state of the art, issues and an agenda," Forest Policy and Economics, Elsevier, vol. 138(C).
    7. Havran, Dániel, 2017. "Schumpeter a tőkepiacon. Schumpeter finanszírozási elméletének fejlődése és életrajzi vonatkozásai [Schumpeter on the capital market: the evolution and biographical relations of Schumpeter's credit," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 1056-1072.
    8. Skare, Marinko & Gil-Alana, Luis A. & Porada-Rochon, Małgorzata, 2025. "Isolating financial cycles using the fractional cyclical model in selected economies: 1970–2019," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 67-77.
    9. Cristiano Antonelli & Christophe Feder, 2023. "The foundations of Schumpeterian dynamics: The European evidence," Journal of Evolutionary Economics, Springer, vol. 33(1), pages 65-96, January.
    10. Carlos González-Rossano & Antonia Terán-Bustamante & Marisol Velázquez-Salazar & Antonieta Martínez-Velasco, 2023. "What Drives Profit Income in Mexico’s Main Banks? Evidence Using Machine Learning," Sustainability, MDPI, vol. 15(7), pages 1-19, March.
    11. Xiuxiu Jiang & Xia Wang & Jia Ren & Zhimin Xie, 2021. "The Nexus between Digital Finance and Economic Development: Evidence from China," Sustainability, MDPI, vol. 13(13), pages 1-17, June.
    12. Philippe Aghion & Agnès Festré, 2017. "Schumpeterian growth theory, Schumpeter, and growth policy design," Journal of Evolutionary Economics, Springer, vol. 27(1), pages 25-42, January.
    13. repec:eur:ejesjr:381 is not listed on IDEAS

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    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:taf:eujhet:v:16:y:2009:i:2:p:325-356. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REJH20 .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.