Financial Capital Overaccumulation
AbstractOveraccumulation of financial capital at the expense of the real sector resulted in falling wages as well as in the most recent global financial crisis. This is a topic of increasing interest, as the idea that some developed economies have reached a stage of overfinancialization has gained some following. In this paper, we lay out a model of overaccumulation, which can be used as a constraint on any growth model.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41698.
Date of creation: 02 Oct 2012
Date of revision:
finance; speculation; overaccumulation; accumulation; growth model; growth;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- G01 - Financial Economics - - General - - - Financial Crises
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