With the final phase of the European Monetary Union underway, concern has been raised over the regional implications of the European Central Bank (ECB) Monetary Policy. Departing from the standard approach utilized by the ECB, this book provides a comprehensive theoretical framework to explore...

The on-going banking crisis has demonstrated the significance of banking for economic growth. While banks as creators of money are important for the functioning of the economy, bank lending to productive enterprises is necessary for economic activity. Much of the international policy discussion...