The origins of money and banking are explained in nearly every introduction money and banking course, but Wray proposes an alternative approach that emerges from a comparative analysis of economic institutions. Orthodox theory suggests that barter replaced self-sufficiency and increased...

Maintaining sufficient liquidity in the financial system is vital for its stability. However, since returns on liquid assets are typically low, individual financial institutions may seek to hold fewer such assets, especially if they believe they can rely on other institutions for liquidity...

This paper investigates the background behind the United States' National Banking System (1863-1913) and develops a special interest account for its passage. It first argues that an important relationship, the Chase-Cooke connection between Treasury Secretary Salmon P. Chase and Philadelphia...

The volume of state support to the banking sector totaled Rb 1.7 trillion in 2015. In particular, recapitalization of major banks has exceeded Rb 1.1 trillion of which major state banks received Rb 800bn. These measures maintained capital adequacy at the required level

This paper links banking system development to the colonial and legal history of African countries. Based on a sample of 40 African countries from 2000 to 2018, our empirical findings show a significant dependence of current financial institutions on the inherited legal origin and the...