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Non-Credit Money to Fight Poverty

In: The Monetary Theory of Production

Author

Listed:
  • Biagio Bossone
  • Abdourahmane Saw

Abstract

While finance plays an important role in supporting economic growth, financial institutions have a limited reach in low income countries. This is because underdeveloped financial infrastructures, inadequate collateral, weak contract enforcement, and low participation in payments systems expose banks to high liquidity and credit risks. Circuit analysis shows how banks enable a monetary production economy to function and grow by creating and allocating money through lending to support demand and production. When lending is hindered by structural impediments, economic growth is constrained.

Suggested Citation

  • Biagio Bossone & Abdourahmane Saw, 2005. "Non-Credit Money to Fight Poverty," Palgrave Macmillan Books, in: Giuseppe Fontana & Riccardo Realfonzo (ed.), The Monetary Theory of Production, chapter 12, pages 187-201, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52307-4_13
    DOI: 10.1057/9780230523074_13
    as

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