IDEAS home Printed from https://ideas.repec.org/a/ekm/repojs/v34y2014i3id95402.html

The crisis of the contemporary global financial system

Author

Listed:
  • Ernani Teixeira Torres Filho

    (Professor Associado do Instituto de Economia da UFRJ, Rio de Janeiro, Brasil.)

Abstract

The paper analyses the development of the contemporary global financial system as a consequence of markets as well as States strategies. This global financial system based on the flexible dollar has generated many financial bubbles since it started in the 80´s, of which the 2008 crisis is the latest and the largest, particularly because it affected the main banks in the core market of the system, the US. On the last decades, banks had changed their business strategies from traditional lending activities towards more speculative investments, similar to what hedge funds do. JEL Classification: E44; F65; G15; N20.

Suggested Citation

  • Ernani Teixeira Torres Filho, 2014. "The crisis of the contemporary global financial system," Brazilian Journal of Political Economy, Center of Political Economy, vol. 34(3), pages 433-450, July.
    • Handle: RePEc:ekm:repojs:v:34:y:2014:i:3:id:95402
    DOI: 10.1590/0101-3157-2014-2362
    as

    Download full text from publisher

    File URL: https://periodicos.fgv.br/bjpe/article/view/95402
    File Function: Abstract page
    Download Restriction: no
    File URL: https://periodicos.fgv.br/bjpe/article/download/95402/88869
    File Function: Full text
    Download Restriction: no
    File URL: https://libkey.io/10.1590/0101-3157-2014-2362?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ekm:repojs:v:34:y:2014:i:3:id:95402. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cecília Heise (email available below). General contact details of provider: https://periodicos.fgv.br/bjpe .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.