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La globalisation financière et ses crises : une continuité de l'Antiquité à nos jours ?

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  • Brahim Gaies

    (IPAG Business School)

Abstract

After the global financial crisis of 2008, the rise of nationalism, the Sino-American trade war and the Covid-19 pandemic, questioning the merits of financial globalization and liberalization policies has been put on the agenda. But is financial globalization a modern political construct following the collapse of the Bretton Woods system in the 1970s, meaning that it can be reformed and even reversed? Or is it the result of a process that began in antiquity and is therefore difficult, if not impossible, to reverse? This paper aims to answer these questions using the historical method in the social sciences.

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  • Brahim Gaies, 2021. "La globalisation financière et ses crises : une continuité de l'Antiquité à nos jours ?," Post-Print hal-03767392, HAL.
    • Handle: RePEc:hal:journl:hal-03767392
    Note: View the original document on HAL open archive server: https://hal.science/hal-03767392
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    References listed on IDEAS

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    1. Neal,Larry, 2015. "A Concise History of International Finance," Cambridge Books, Cambridge University Press, number 9781107621213.
    2. Maurice Obstfeld & Alan M. Taylor, 2003. "Globalization and Capital Markets," NBER Chapters, in: Globalization in Historical Perspective, pages 121-188, National Bureau of Economic Research, Inc.
    3. Michael D. Bordo & Barry Eichengreen, 1993. "A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform," NBER Books, National Bureau of Economic Research, Inc, number bord93-1, March.
    4. Warwick McKibbin & Roshen Fernando, 2021. "The Global Macroeconomic Impacts of COVID-19: Seven Scenarios," Asian Economic Papers, MIT Press, vol. 20(2), pages 1-30, Summer.
    5. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    6. Loïc Belze & Philippe Spieser, 2007. "Histoire de la finance : Le temps, le calcul et les promesses," Post-Print hal-02298097, HAL.
    7. Murphy, Antoin E., 1997. "John Law: Economic Theorist and Policy-maker," OUP Catalogue, Oxford University Press, number 9780198286493.
    8. Jensen, Michael C., 1978. "Some anomalous evidence regarding market efficiency," Journal of Financial Economics, Elsevier, vol. 6(2-3), pages 95-101.
    9. Neal,Larry, 2015. "A Concise History of International Finance," Cambridge Books, Cambridge University Press, number 9781107034174.
    10. Pezzolo, Luciano & Tattara, Giuseppe, 2008. "“Una fiera senza luogo†: Was Bisenzone an International Capital Market in Sixteenth-Century Italy?," The Journal of Economic History, Cambridge University Press, vol. 68(4), pages 1098-1122, December.
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    Cited by:

    1. Gaies, Brahim & Nakhli, Mohamed Sahbi & Sahut, Jean-Michel & Schweizer, Denis, 2023. "Interactions between investors’ fear and greed sentiment and Bitcoin prices," The North American Journal of Economics and Finance, Elsevier, vol. 67(C).

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    More about this item

    Keywords

    financial capitalism; financial crisis; multinational companies; deglobalization; capitalisme financier; crises financières; multinationales; déglobalisation; Covid-19;
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