Advanced Search
MyIDEAS: Login to save this article or follow this journal

Financialisation: Structure, Extent, Consequences

Contents:

Author Info

  • Iancu, Aurel

    (National Institute of Economic Research of the Romanian Academy.)

Abstract

Financialisation is a complex and dynamic process of enlarging the monetary and financial relations in economy and society. This paper deals with the analysis of the financial market structure, such as: the role and magnitude of financial sectors, the dynamics of the banking sector versus the stock market and the rising role of the shadow banking sector. Also, it explains and analyzes the ways and modalities to develop financialisation by growing the public and private indebtedness, extension of the securitisation process and using the financial derivatives on a large scale. Considered as endogenous factors, they all increase the fragility of the financial system.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.ipe.ro/rjef/rjef2_13/rjef2_2013p172-192.pdf
Download Restriction: no

Bibliographic Info

Article provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.

Volume (Year): (2013)
Issue (Month): 2 (June)
Pages: 172-192

as in new window
Handle: RePEc:rjr:romjef:v::y:2013:i:2:p:172-192

Contact details of provider:
Postal: Casa Academiei, Calea 13, Septembrie nr.13, sector 5, Bucureşti 761172
Phone: 004 021 3188148
Fax: 004 021 3188148
Email:
Web page: http://www.ipe.ro/
More information through EDIRC

Related research

Keywords: financialisation; financial sector; stock market; shadow banking; indebtedness; financial innovation; securitisation; financial derivatives;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Engelbert Stockhammer, 2010. "Financialization and the Global Economy," Working Papers wp240, Political Economy Research Institute, University of Massachusetts at Amherst.
  2. Costas Lapavitsas, 2009. "Financialisation, or the search for profits in the sphere of circulation," EKONOMIAZ, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 72(03), pages 98-119.
  3. Thomas I. Palley, 2007. "Financialization: What It Is and Why It Matters," Working Papers wp153, Political Economy Research Institute, University of Massachusetts at Amherst.
  4. Bryan J. Noeth & Rajdeep Sengupta, 2012. "A look at credit default swaps and their impact on the European debt crisis," The Regional Economist, Federal Reserve Bank of St. Louis, issue Apr.
  5. Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute.
  6. Andreas Lehnert & Wayne Passmore & Shane M. Sherlund, 2005. "GSEs, mortgage rates, and secondary market activities," Finance and Economics Discussion Series 2005-07, Board of Governors of the Federal Reserve System (U.S.).
  7. repec:wbk:wboper:13418 is not listed on IDEAS
  8. James Crotty, 2008. "Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’," Working Papers wp180, Political Economy Research Institute, University of Massachusetts at Amherst.
  9. repec:wbk:wboper:13428 is not listed on IDEAS
  10. Demirguc-Kunt, Asli & Levine, Ross, 1999. "Bank-based and market-based financial systems - cross-country comparisons," Policy Research Working Paper Series 2143, The World Bank.
  11. Yener Altunbas & Leonardo Gambacorta & David Marqués, 2007. "Securitisation and the bank lending channel," Temi di discussione (Economic working papers) 653, Bank of Italy, Economic Research and International Relations Area.
  12. repec:wbk:wboper:13433 is not listed on IDEAS
  13. World Bank & International Finance Corporaton, . "Doing Business in Kenya 2012," World Bank Other Operational Studies 13419, The World Bank.
  14. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973.
  15. repec:wbk:wboper:12202 is not listed on IDEAS
  16. Dobrescu, Emilian, 2010. "Macromodel Simulations for the Romanian Economy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 7-28, July.
  17. Ozgur Emre Ergungor, 2002. "Market- vs. bank-based financial systems: do investor rights really matter?," Working Paper 0101R, Federal Reserve Bank of Cleveland.
  18. Hans J. Blommestein & Ahmet Keskinler & Carrick Lucas, 2011. "Outlook for the Securitisation Market," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2011(1), pages 259-276.
  19. Triandafil, Cristina Maria, 2013. "Sustenabilitatea procesului de convergenta nominalala si reala în cadrul UE în contextul crizei financiare; implicatii asupra cadrului de reglementare prudentiala," Studii Economice 130909, National Institute of Economic Research.
  20. Andreas Jobst, 2005. "The regulatory treatment of asset securitisation: The Basel Securitisation Framework explained," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 13(1), pages 15-42, February.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rjr:romjef:v::y:2013:i:2:p:172-192. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Corina Saman).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.