The Australian money market

This article considers first the early history of the Australian money market. A serious market first began to emerge in the 1950s, catalysed by stock and share brokers. However it was not until 1959 that lender-of-last-resort facilities became available to ensure market liquidity for official marke...

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Bibliographic Details
Main Author: J.S.G. WILSON
Format: Article
Language:English
Published: Associazione Economia civile 2013-10-01
Series:PSL Quarterly Review
Subjects:
Online Access:https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10930
Description
Summary:This article considers first the early history of the Australian money market. A serious market first began to emerge in the 1950s, catalysed by stock and share brokers. However it was not until 1959 that lender-of-last-resort facilities became available to ensure market liquidity for official market makers. Over recent years the greatest growth has been in the unofficial sectors. The article reviews the role and nature of participants and the instruments traded and asks whether the demise of the official market makers is imminent.   JEL: F30
ISSN:2037-3635
2037-3643