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ECONOMIC-LEGAL NATURE AND FUNCTIONS OF MONEY. ROLE OF MONEY IN PAYMENT SYSTEMS ORIGIN

Irina Fedorovna Smirnova

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Abstract

The author discusses the complex of the questions associated with the definition of the economic-legal nature of money, analyzes at large the functions of money, as well as studies in detail the influence of money functions on payment systems formation and development, and in addition pays special attention to the analysis of the key elements that make up a payment system and to the fundamental principles, according to which payment systems normally function.

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What this paper is about

The author discusses the complex of the questions associated with the definition of the economic-legal nature of money, analyzes at large the functions of money, as well as studies in detail the influence of money functions on payment systems formation and development, and in addition pays special attention to the analysis of the key elements that make up a payment system and to the fundamental principles, according to which payment systems normally function.

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Available abstract

The author discusses the complex of the questions associated with the definition of the economic-legal nature of money, analyzes at large the functions of money, as well as studies in detail the influence of money functions on payment systems formation and development, and in addition pays special attention to the analysis of the key elements that make up a payment system and to the fundamental principles, according to which payment systems normally function.

Key concepts: Payment, Money measurement concept, Payment system, Function (biology), Endogenous money, Electronic money, Economics, Business

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