Integrating the Real and Financial via the Linkage of Financial Flow

Cohen, Jacob

doi:10.1111/j.1540-6261.1968.tb02995.x

Cited by 16 publications

(6 citation statements)

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“…Notes: Schematic representation of the flow of funds across different sectors of the economy, paying particular attention on the hierarchical relationships between different forms of money and credit. The lower portion of the figure presents a sectoral flow-of-funds table that is consistent with the money-flow accounting pioneered by Copeland (1947Copeland ( , 1952 and its extensions by Cohen (1972Cohen ( , 1987. See main text for more details.…”

Section: Linking Regional Moneyflows and The Hierarchy Of Moneysupporting

confidence: 62%

“…20 The upper portion of the figure underlines the weblike connectivity of interregional moneyflows that arises from the balancesheet relations of different sectors of the space-economy. The lower portion of the figure provides a regional money flow matrix representation of economic activity that is consistent with and expanded and refined by Cohen (1968Cohen ( , 1972Cohen ( , 1987.…”

Section: The Flow-of-funds Perspective and Isardian Monetary Spacementioning

confidence: 74%

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Back to the Future: Lösch, Isard, and the Role of Money and Credit in the Space-Economy

Bieri

2017

Regional Research Frontiers - Vol. 1

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The recent financial crisis has been a powerful reminder that the intersectoral flow of funds is also-always and everywhere-a local phenomenon with real effects. Yet, the contemporary canon of regional economic theory has enshrined the classical dichotomy, treating the spheres of money and production as analytically distinct. Consequently, the current literature has little to say about monetary phenomena and their spatial consequences. The widespread disengagement of regional scientists with respect to issues of money, credit and banking represents a radical break with the discipline's intellectual origins over half a century ago. This chapter re-examines the monetary content of some of the foundational works in regional science. In particular, I argue that August Lösch and Walter Isard, the former a student of Joseph Schumpeter's and the latter a student of Alvin Hansen's, both represent important branches in the long lineage of 20 th century continental and U.S. monetary thought, respectively. In doing so, this chapter also outlines key elements of a research agenda that reengages with regional aspects of money and credit, casting them as central pillars of a Lösch-Isard synthesis.

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Section: Linking Regional Moneyflows and The Hierarchy Of Moneysupporting

confidence: 62%

Section: The Flow-of-funds Perspective and Isardian Monetary Spacementioning

confidence: 74%

Back to the Future: Lösch, Isard, and the Role of Money and Credit in the Space-Economy

Bieri

2017

Regional Research Frontiers - Vol. 1

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“…(1) Darling and Lovell (1965) in a study for the Brookings Model failed to uncover significant interest rate effects on stockbuilding in manufacturing, but obtained more promising results for the non-manufacturing sector. Cohen (1968) found that aggregate non-farm stockbuilding was well correlated with changes in bank lending but not with short-term interest rates.…”

Section: Stockbuildingmentioning

confidence: 96%

The Channels of Monetary Influence: a Survey of the Empirical Evidence

Savage

1978

Natl. Inst. econ. rev.

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Over the years a large number of empirical studies have investigated the effects of monetary factors on various forms of private expenditure. This article surveys the evidence which has accumulated with a view to throwing some light on the basic issue of how, and how strongly, monetary policies influence real economic activity in this country. The evidence is varied and often contradictory and only tentative conclusions can be drawn.

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“…In Nigeria, microcredit given to farmers to purchase farm inputs and increase productivity was found to have been diverted to other nonagricultural needs (Enimu, Eyo, & Ajah, 2017). The use of credit from an expenditure for other purposes aside from its purpose is known as CF (Cohen, 1968). Therefore, diverting agriculture credit (i.e., credit for purchasing farm inputs and land preparation) to nonagriculture purposes (e.g., household utilization for education, healthcare, and daily consumption) is termed agricultural CF and is the focus of this study.…”

Section: Introductionmentioning

confidence: 99%

Determinants of agriculture credit fungibility among smallholder farmers: The case of rural Ghana

Darfor

Twumasi

Akaba

et al. 2021

IJANR

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This study examined the determinants of rural household agriculture credit fungibility (CF). The study found agricultural CF among farmers, with approximately 79% of farmers involved in agricultural CF. Household financial burden was found to be the main cause of CF among the studied farmers. Most fungible credit was used for clothing and food consumption. A probit model was employed to analyze survey data collected from four regions in Ghana. We employed an instrumental variable approach (IV-Probit) to test for robustness due to endogeneity issues. The econometric model results show that the variables of off-farm income and farm size inversely influenced agricultural CF, while those of education, household size, male farmer gender, and chronic disease variables had a positive effect on agricultural CF. Our findings have policy implications for alleviating agricultural CF.

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Integrating the Real and Financial via the Linkage of Financial Flow

Cited by 16 publications

References 1 publication

Back to the Future: Lösch, Isard, and the Role of Money and Credit in the Space-Economy

Back to the Future: Lösch, Isard, and the Role of Money and Credit in the Space-Economy

The Channels of Monetary Influence: a Survey of the Empirical Evidence

Determinants of agriculture credit fungibility among smallholder farmers: The case of rural Ghana

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