Abstract
At this stage it is possible to suggest a simplified financial mechanism which links the path of capital accumulation with the supply of money as the flow-supply aspects of securities are explicitly accounted for in the model.1
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Notes
See F. P. R. Brechling, ‘A Note on Bond-Holding and the Liquidity Preference Theory of Interest’, Rev. of Econ. Stud. 24 (1957) pp. 195–6.
Cf. R. G. Hawtrey, The Art of Central Banking (London: Longmans, Green, 1932) p. 327.
Cf. J. G. Gurley and E. S. Shaw, ‘Financial Aspects of Economic Development’, Amer. Econ. Rev. (1955) 45, p. 525.
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© 1978 Paul Davidson
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Davidson, P. (1978). Finance and Accumulation — A First Simplified View. In: Money and the Real World. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15865-2_11
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DOI: https://doi.org/10.1007/978-1-349-15865-2_11
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