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Financiarización y crisis económica: ¿puede pasar de nuevo?

Author

Listed:
  • Jesús Ferreiro Aparicio

    (Universidad del País Vasco (UPV/EHU))

  • Carmen Gómez Vega

    (Universidad del País Vasco (UPV/EHU))

Abstract

Many studies point out the central role played by the process of financialization in the burst of the Global Financial Crisis and the subsequent Great Recession. The negative consequences of an excessive size of finances suggest the need of a de-financialization process that reduced the size of the financial assets and liabilities. The study of the balance sheets of the European Union countries since the year 2007 shows, however, that this process has not taken place in most European countries, leading to the possibility of a new systemic financial crisis in the short or medium term.

Suggested Citation

  • Jesús Ferreiro Aparicio & Carmen Gómez Vega, 2020. "Financiarización y crisis económica: ¿puede pasar de nuevo?," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 35(02), pages 86-107.
    • Handle: RePEc:ekz:ekonoz:2020203
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    More about this item

    Keywords

    crisis financiera; financiarización; de-financiarización; balances financieros; Unión Europea; financial crisis; financialization; de-financialization; balance sheets; European Union;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G01 - Financial Economics - - General - - - Financial Crises
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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