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Renta financiera y solvencia mundial

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  • Jose Luis Nicolini Llosa

Abstract

En un balance mundial consolidado, los rentistas son los únicos atesoradores intertemporales de activos financieros netos. Los bancos internacionales reciclan el flujo de ingresos de los rentistas como crédito hacia el resto del mundo. En esta dinámica circular, la riqueza financiera neta mundial en relación al PBI crece en función del cociente entre la participación de la renta en el ingreso mundial y la tasa de crecimiento del PBI. Definimos a este como el cociente de financiarización neta mundial y lo computamos para 2001-2012. El crecimiento de la riqueza financiera representa mayor endeudamiento mundial neto, lo que contribuye a aumentar el riesgo de insolvencia sistémica recesiva como en 2007. De allí en mas, la política monetaria quedó condicionada a sostener los precios de los activos financieros para evitar una nueva crisis.

Suggested Citation

  • Jose Luis Nicolini Llosa, 2015. "Renta financiera y solvencia mundial," Ensayos de Economía 14143, Universidad Nacional de Colombia Sede Medellín.
    • Handle: RePEc:col:000418:014143
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    File URL: http://www.revistas.unal.edu.co/index.php/ede/article/view/53623
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    More about this item

    Keywords

    Renta financiera internacional; Solvencia sistémica; Crisis internacional; Economía Internacional.;
    All these keywords.

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • F3 - International Economics - - International Finance
    • G01 - Financial Economics - - General - - - Financial Crises
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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