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Sources of Finance, Recent Changes in Bank Behaviour and the Theory of Investment and Interest

In: Money and Banking

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  • Victoria Chick

Abstract

One of Stephen F. Frowen’s abiding interests has been investment and its finance. Recent changes in bank behaviour and the pattern of finance have been dramatic. The banks learnt liability management and used that skill to support a period of rapid, advances-led growth in the later 1970s; they are now beginning to take a new approach to the liquidity of their assets — ‘securitisation’. Roughly coincident with these changes, business finance shifted strongly toward bank loans in the late 1970s and has now reverted to the use of long-term securities and equity as important sources of funds.

Suggested Citation

  • Victoria Chick, 1993. "Sources of Finance, Recent Changes in Bank Behaviour and the Theory of Investment and Interest," Palgrave Macmillan Books, in: Philip Arestis (ed.), Money and Banking, chapter 5, pages 55-74, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-13319-2_5
    DOI: 10.1007/978-1-349-13319-2_5
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