Moving Money analyses the influence of politics on financial systems. Daniel Verdier examines how information asymmetry and economies of scale over time have created a redistributional conflict between large and small banks, financial centres and their peripheries, and he discusses how governments have attempted to arbitrate this conflict. He argues that centralized states have tended to create concentrated, internationalized, market-based and specialized financial systems, whereas decentralized states have favoured dispersed, national, bank-based and, with a few exceptions, universal systems. Verdier then sets out to uncover the sources, political and economic, of cross-country variation in financial market organization, examining 15 to 20 OECD countries from 1850 onwards.
- ISBN10 6610434107
- ISBN13 9786610434107
- Publish Date 13 February 2003
- Publish Status Active
- Out of Print 29 December 2011
- Publish Country US
- Imprint Cambridge University Press
- Format eBook
- Pages 327
- Language English