This paper argues that ‘spatial monetary policy’ may be needed to achieve more territorially balanced economic development. Central banks have been key in fostering financialised economies while also preventing their collapse in times of crisis—a role further strengthened by the coronavirus pandemic. Central banks have thus become the most powerful economic policy-making institutions, just when spatial disparities are likely to deepen. In the context of crisis-ridden financialised capitalism, regional development policies should consider the spatial implications of central bank interventions and recognise monetary policy as a key element of spatial policy. Simultaneously, monetary policy should embrace an explicit spatial agenda.

中文翻译：

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金融化、区域经济发展和冠状病毒危机：空间货币政策的时代？

本文认为，可能需要“空间货币政策”来实现更地域平衡的经济发展。中央银行一直是促进金融化经济的关键，同时也防止它们在危机时期崩溃——冠状病毒大流行进一步加强了这一作用。因此，就在空间差异可能加深之际，中央银行已成为最强大的经济决策机构。在危机四伏的金融资本主义背景下，区域发展政策应考虑中央银行干预的空间影响，并将货币政策视为空间政策的关键要素。同时，货币政策应包含明确的空间议程。