Originally published in 1991, The Economic Organisation of a Financial System develops a descriptive theory of a financial system’s organisation and functions and applies the theory of organisational economics to the study of a financial system. The book attempts to reconcile neoclassical financial theory and managerial finance by synthesising the main findings of these studies within an institutional economics framework. The book helps to relate the complementary perspectives of current theory and current practice and aims to strengthen the relations between both theory and practice. The book’s contents provide a detailed illustration of how organisational economics can be put to work.

chapter one|11 pages


chapter two|20 pages

Financial system agents and environment

chapter three|18 pages

Governance mechanisms: major types

chapter four|26 pages

Specialised governance mechanisms

chapter five|18 pages

Aligning mechanisms with transactions

chapter six|16 pages

Managing transaction terms

chapter seven|15 pages

Managing portfolios

chapter eight|24 pages

System organisation and performance

chapter nine|17 pages

Financial system change and performance

chapter ten|16 pages

Finance and economic development

chapter Eleven|4 pages