Table of contents (expand)
- Necessity and prerequisites for the emergence and use of money
- The modern banking system of the Russian Federation, its structure
- Essence, functions and properties of money
- The role of money in a commodity economy
- The concept of the type and form of money (D)
- Electronic money (ED), their properties and features
- Monetary systems (DS), device, types
- Management principles and functioning of the monetary system
- Elements of the country's monetary system (BCS)
- Cash and payment turnover (DO and PO), its structure
- Release of money into economic circulation
- Principles of organization of cash circulation
- Principles of organization of non-cash money circulation
- bank loan cartoon
- Money supply and monetary aggregates. Velocity of money
- Empirical laws of money circulation
- Quantitative laws of circulation of money
- Methods of state regulation of money circulation
- Nominal and metallic theory of money
- Types, types and forms of inflation
- Forms of manifestation, causes and consequences of inflation
- Methods, limits, contradictions of inflation regulation
- Foreign exchange market
- Concept, structure and elements of currency systems
- World Monetary System: Evolution and Current State
- Regulation of foreign exchange transactions
- country's balance of payments.
- The concept of credit and the need for its appearance
- The main stages in the development of credit relations
- Functions, role and boundaries of credit
- Forms and types of loans
- Loan interest (interest income) and interest rate
- Determination of the market rate of interest
- Nominal and real interest rates
- Types of nominal interest rates
- Factors Determining Differences in Interest Rates
- Interest income calculation
- Lending organization
- Credit risks and creditworthiness of the borrower
- Loan collateral and credit management
- Capital-creating theories of credit
- Theories of credit
- Central banks, their functions and monetary regulation
- Instruments and methods of monetary policy
- Essence and functions of commercial banks
- Balance sheet and operations of commercial banks
- Credit and financial institutions of the country
- Banking and monetary systems of the USA, England, Germany, Japan, France, Italy and Canada
- Banking Legislation
- Regulation of monetary circulation
- Private banking ("Private banking")
- Credit consulting (provision of consulting services on lending)
- Terminological dictionary
Capital-creating theories of credit
1) John Lo:
▪ Analysis of metallic money. A metal coin is a commodity with absolute liquidity. This monetary commodity acquires added value because there is a demand for it, like a coin (if the metal were not used as money, its value would be lower). From this Law concluded that paper money was preferable.
▪ Money is just an intermediary in exchange, therefore, it does not matter what it is made of.
▪ Paper is a cheap commodity in abundance, so the problem of price fluctuations depending on the price of money is solved.
▪ Every use of money brings interest (profit). The more money, the more profit. How to increase the amount of money in the state? - due to credit.
▪ Paper money has no value abroad, so this wealth will not be exported (mercantilist aspect).
▪ Money is capital.
▪ Credit is money.
▪ Paper money is credit, therefore, whoever creates paper money creates capital.
2) Henry McLeod:
▪ Credit creation is capital creation.
▪ Using credit leads to equalization of prices and increases product supply.
▪ Banks are credit factories. By issuing money, the bank creates public wealth.
3) Joseph Schumpeter:
▪ Credit is a lever for withdrawing benefits from some areas and transferring them to other areas.
▪ Credit - creation of purchasing power for transfer to the entrepreneur. This leads to economic growth.
▪ The issuance of loans can lead to credit inflation, which is subsequently covered by the output of products.
4) Albert Gunn:
▪ There are active bank operations. Which precede the passive ones. They are priority. Example: a current loan is a short-term bank loan provided up to an agreed maximum as the client's need arises. Current credit allows banks to create imaginary deposits, a possibility that Hahn views as limitless. A characteristic feature of a contract loan is that it is blank (unsecured). Often, enterprises, unable to pay, give shares to pay off debt.
▪ In Russia, capital-creative theories of credit are not widespread. The theory of imaginary capital by S.F. remained almost unknown. Sharapov (Taletsky).
Author: Shevchuk D.A.
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