By Daniel Verdier
Relocating cash analyses the effect of politics on monetary platforms. Daniel Verdier examines how details asymmetry and economies of scale over the years have created a redistributional clash among huge and small banks, monetary centres and their peripheries, and he discusses how governments have tried to arbitrate this clash. He argues that centralized states have tended to create focused, internationalized, market-based and really expert monetary platforms, while decentralized states have favoured dispersed, nationwide, bank-based and, with a number of exceptions, common structures. Verdier then units out to discover the resources, political and fiscal, of cross-country version in monetary marketplace association, interpreting 15 to twenty OECD international locations from 1850 onwards.
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