THE FREE BANKING CHALLENGE TO CENTRAL BANKS

Authors
GOODHART CAE
Citation
Cae. Goodhart, THE FREE BANKING CHALLENGE TO CENTRAL BANKS, Critical review, 8(3), 1994, pp. 411-425
Citations number
25
Categorie Soggetti
Social, Sciences, Interdisciplinary
Journal title
Critical review → ACNP
ISSN journal
08913811
Volume
8
Issue
3
Year of publication
1994
Pages
411 - 425
Database
ISI
SICI code
0891-3811(1994)8:3<411:TFBCTC>2.0.ZU;2-B
Abstract
The numerous historical episodes of free banking have invariably ended in the establishment of central banking. Was the failure of free bank ing due to ''theory,'' ''seignorage'' - the attempt by governments to use central banks for revenue purposes - or to ''crises''? Would a fre e banking system be stable, free of crises? This is the crux of the th eoretical and historical debate.