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Financial Systems and Capital Markets: an alternative view

Author

Listed:
  • Mavroudeas, Stavros
  • Lapavitsas, Costas

Abstract

This paper presents the Marxist theory of the financial system and the capital markets. First, it surveys the orthodox literature on the relationship between finance and the economy. Then, the function of the capital markets is analysed. Finally the differences between the orthodox and the Marxist perspective are being explained.

Suggested Citation

  • Mavroudeas, Stavros & Lapavitsas, Costas, 1999. "Financial Systems and Capital Markets: an alternative view," MPRA Paper 18622, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:18622
    as

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    File URL: https://mpra.ub.uni-muenchen.de/18622/1/MPRA_paper_18622.pdf
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    References listed on IDEAS

    as
    1. Ila Patnaik & Ajay Shah, 2009. "The difficulties of the Chinese and Indian exchange rate regimes," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 6(1), pages 157-173, June.
    2. Pietro Alessandrini & Michele Fratianni, 2009. "International Monies, Special Drawing Rights, and Supernational Money," Mo.Fi.R. Working Papers 26, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    3. Michael P. Dooley & David Folkerts-Landau & Peter M. Garber, 2005. "An essay on the revived Bretton Woods system," Proceedings, Federal Reserve Bank of San Francisco.
    4. Nouriel Roubini & Brad Setser, 2005. "Will the Bretton Woods 2 regime unravel soon? the risk of a hard landing in 2005-2006," Proceedings, Federal Reserve Bank of San Francisco, issue Feb.
    5. Shirai, Sayuri, 2009. "Evaluating the Present State of Japan as An International Financial Center," MPRA Paper 14720, University Library of Munich, Germany.
    6. Michael Dooley & David Folkerts-Landau & Peter Garber, 2009. "Bretton Woods Ii Still Defines The International Monetary System," Pacific Economic Review, Wiley Blackwell, vol. 14(3), pages 297-311, August.
    7. Sayuri SHIRAI, 2009. "The Impact of the US Subprime Mortgage Crisis on the World and East Asia: Through Analyses of Cross-border Capital Movements," Working Papers d013, Economic Research Institute for ASEAN and East Asia (ERIA).
    8. Francis E. Warnock & Veronica C. Warnock, 2005. "International Capital Flows and U.S. Interest Rates," The Institute for International Integration Studies Discussion Paper Series iiisdp103, IIIS.
    9. Shirai, Sayuri, 2009. "The Impact of the US Subprime Mortgage Crisis on the World and East Asia," MPRA Paper 14722, University Library of Munich, Germany.
    10. Eswar S. Prasad, 2009. "Effects of the Financial Crisis on the U.S.-China Economic Relationship," Cato Journal, Cato Journal, Cato Institute, vol. 29(2), pages 223-235, Winter.
    11. Ronald McKinnon & Gunther Schnabl, 2009. "China's financial conundrum and global imbalances," BIS Working Papers 277, Bank for International Settlements.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    finance; capital markets; Marxism; neoclassical theory;

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • G0 - Financial Economics - - General

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