This book examines the fundamental nature of banking in the economy
of the 1970s and 80s, arguing that banking cannot be properly
understood unless it is regarded as the retailing of financial
services. In analysing the nature of banking the book demonstrates
how banking might operate without regulatory constraints; surveys
the patterns of regulatory constraint in a wide range of economies;
analysis the effects of these various forms of constraint on the
operation of a previously unregulated bank; examines the move to
multinational banking; explores risks peculiar to multinational
banking, whilst providing a diagrammatic illustration of those
risks. When originally published this was one of the first books to
treat banking from both a theoretical and empirical perspective and
is unique in reviewing the case of a completely unregulated
commercial bank and following the progression of banking through to
the multinational stage.
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