David Hume on Banking and Hoarding

Paganelli, Maria Pia

doi:10.4284/0038-4038-2013.163

Cited by 16 publications

(5 citation statements)

References 31 publications

(34 reference statements)

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“…D. Hume devoted significant attention to the circulation of money, observing the correlation between an increased supply of metallic money and a subsequent gradual rise in the prices of various goods until they matched the expansion of the money supply [7]. This perspective positioned the purchasing power of money and prices as variables dependent on the quantity of money in circulation.…”

Section: Literature Reviewmentioning

confidence: 99%

The role of the Kazakhstan Stock Exchange in the economic development of Kazakhstan

Kan,

Tairova,

Torgayeva

et al. 2024

QJSS

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This article delves into the pivotal role of stock exchanges in spurring economic growth, focusing on their capacity to mobilize capital for businesses, foster investment and job creation, and enhance the efficiency of financial markets. Emphasizing the Kazakhstan Stock Exchange (KASE), this research illuminates its instrumental function in the economic advancement of Kazakhstan. By comparing data from prominent global stock markets, including the New York Stock Exchange, the analysis underscores KASE's potential to catalyze economic diversification and growth. Concentrating on the period between 2018 and 2022, this study scrutinizes the exchange's influence on crucial macroeconomic parameters such as GDP, inflation, and unemployment rates. Employing both a correlation matrix and linear regression analysis, the investigation evaluates the interplay between these economic indicators and stock market capitalization. The findings reveal a pronounced positive correlation between market capitalization and the inflation rate, indicating a substantial effect of the stock market on inflationary trends. Conversely, the relationships between market capitalization and both GDP and unemployment appeared minimal and statistically non-significant. These insights underscore the stock exchange's vital role in inflation management, albeit raising questions about its direct influence on GDP augmentation and unemployment mitigation. This examination underscores the critical significance of the Kazakhstan Stock Exchange in bolstering Kazakhstan's economic health, particularly regarding inflation control. The paper suggests that future research, possibly incorporating an expanded dataset or alternative analytical methodologies, could shed further light on these dynamics.

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Section: Literature Reviewmentioning

confidence: 99%

The role of the Kazakhstan Stock Exchange in the economic development of Kazakhstan

Kan,

Tairova,

Torgayeva

et al. 2024

QJSS

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“…), dass die Preise in Europa keineswegs im Ausmaß des Geldzustroms gestiegen seien und deutet eine sogar langfristige Nicht-Neutralität des Geldes an: 23 "It is certain, that, since the discovery of the mines in America, industry has increased in all the nations of Europe, except in the possessors of those mines; and this may justly be ascribed, among other reasons, to the encrease of gold and silver" (Hume 1752 a, S. 37;vgl. Hont 1983;Paganelli 2014).…”

Section: Handel Als "Produktive Goldmine"mentioning

confidence: 99%

Kameralismus und Merkantilismus

2022

Schriften Des Vereins Für Socialpolitik

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“…For Smith, the improvement would come from legal restrictions on interest rates , on small denomination notes , and on the ability of banks to suspend convertibility (WN II.ii.98,. Similarly, for David Hume improvement would come from a reform of the banking system so that it would eventually resemble the one in Amsterdam (Hume [1752(Hume [ ] 1985; see also Paganelli 2014;Dimand 2013). These were suggestions for simple reforms of the existing institutions, not designs for an ideal society inhabited by a redesigned ideal people.…”

Section: "Betterment" Rather Than Improvement Progress or Developmentmentioning

confidence: 99%