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Money creation by commercial banks
This thesis examines methodically the three mainstream theories that try to explain the money creation role of commercial banks in nowadays society, since their inception until today. In the intermediation model banks act merely as mediators between savers and borrowers, in a process that requires accumulation of real resources prior to lending; the credit creation theory sustains that banks create deposits every time they accept a lending opportunity, and that they can do so instantly onlydoi:10.25365/thesis.47914 fatcat:urvf5fv2d5a35cd32l3tlbpana