Banking and Finance

  • J. Wilczynski


Socialist economic thought and policy were for a long time dominated by a restricted view of the role of money. On ideological as well as practical grounds it was widely believed that under Socialism all functions of money should be strictly planned by the State. It was accepted that the role of money should be reduced to that of a passive recording and accounting device, to facilitate the administration and control of planned production and distribution, and that it should wither away under ‘full communism’.


Interest Rate Central Bank Banking System Foreign Trade Investment Finance 
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  1. 3.
    I. Levchuk and A. Cheblokov, (‘Credit and the Economic Reform’), Diengi i kredit (Money and Credit), Moscow, 2/1968, p. 15.Google Scholar
  2. 1.
    V. Dragojević, (‘The Growth of Foreign Investments in the Yugoslav Economy’), Nova trgovina (New Trade), Belgrade, 1/1970, pp. 12-14.Google Scholar

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© J. Wilczynski 1972

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  • J. Wilczynski

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