Finance

finance, theory and practice of conducting large public and private dealings in money. Important institutions of private finance include those that deal with insurance, banking, stocks (see stock), bonds, and other securities. With the development of the national state, public finance—the management of the revenues, expenditures, and debts of the state—has been of great political, as well as economic, importance. The most important source of government revenue is taxes, but sale of public properties and franchises, as well as the sale of interest-bearing bonds, also contribute. Since the Korean War, a large part of governmental expenditures has gone for various military and defense needs. Other important areas of governmental expenditure are health, education, and welfare (the Social Security, Medicare, and Medicaid programs); interest on the national debt; and public works. Important institutions of international finance are the International Bank for Reconstruction and Development and the International Monetary Fund.

See D. Allen, Finance (1983); D. Swain, Managing Public Money (1987); L. Harris et al., ed., New Perspectives on the Financial System (1988); N. Gianaris, Contemporary Public Finance (1989).

The Columbia Encyclopedia, 6th ed. Copyright© 2014, The Columbia University Press.

Selected full-text books and articles on this topic

Finance: A Characteristics Approach
David Blake.
Routledge, 2000
Finance Theory and Asset Pricing
Frank Milne.
Oxford University, 1995
Finance and Accounting for Nonfinancial Managers: All the Basics You Need to Know
William G. Droms.
Perseus Books, 1997 (4th edition)
Opportunity Cost in Finance and Accounting
H. G. Heymann; Robert Bloom.
Quorum Books, 1990
The End of Finance: The Theory of Capital Market Inflation, Financial Derivatives, and Pension Fund Capitalism
Jan Toporowski.
Routledge, 2000
The Keepers of Finance: U.S. Financial Leadership at the Crossroads
Jeremy F. Taylor.
Quorum Books, 1991
A Dictionary of Finance and Banking
Brian Butler; David Butler; Alan Isaacs.
Oxford University Press, 1997 (2nd edition)
Understanding Financial Crises
Franklin Allen; Douglas Gale.
Oxford University Press, 2007
The Ethics of Accounting and Finance: Trust, Responsibility, and Control
W. Michael Hoffman; Judith Brown Kamm; Robert E. Frederick; Edward S. Petry.
Quorum, 1996
New Facts in Finance
Cochrane, John H.
Economic Perspectives, Vol. 23, No. 3, Fall 1999
Generalized Method of Moments: Applications in Finance
Jagannathan, Ravi; Skoulakis, Georgios; Wang, Zhenyu.
Journal of Business & Economic Statistics, Vol. 20, No. 4, October 2002
PEER-REVIEWED PERIODICAL
Peer-reviewed publications on Questia are publications containing articles which were subject to evaluation for accuracy and substance by professional peers of the article's author(s).
Does Finance Have a Soul?
Satins, Antoine de.
Review of Business, Vol. 19, No. 4, Summer 1998
PEER-REVIEWED PERIODICAL
Peer-reviewed publications on Questia are publications containing articles which were subject to evaluation for accuracy and substance by professional peers of the article's author(s).
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