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Finance, Competition, Instability, and Development Microfoundations and Financial Scaffolding of the Economy

Author

Listed:
  • Jan Kregel
  • Leonardo Burlamaqui

Abstract

The present paper attempts to utilize “the knowledge-based” nature of firms’ operations as set out in the diverse theoretical frameworks to stress the importance of organisational and managerial techniques in the creation of market dominance by particular financial firms in the same way that these theories have analysed industrial firms. The article will also analyze the process of competition between different firms and between different financial structures in terms of the impact of different organisational regimes on profitability, efficiency, and instability of the economic system. As the result, the diverse policy recommendations concerning financial regulation, institution building, and microfinancial structure are given.

Suggested Citation

  • Jan Kregel & Leonardo Burlamaqui, 2006. "Finance, Competition, Instability, and Development Microfoundations and Financial Scaffolding of the Economy," The Other Canon Foundation and Tallinn University of Technology Working Papers in Technology Governance and Economic Dynamics 04, TUT Ragnar Nurkse Department of Innovation and Governance.
    • Handle: RePEc:tth:wpaper:04
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    References listed on IDEAS

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    1. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-337, May.
    2. Dore, Ronald, 2000. "Stock Market Capitalism: Welfare Capitalism: Japan and Germany versus the Anglo-Saxons," OUP Catalogue, Oxford University Press, number 9780199240616.
    3. Shelia C. Dow & Peter E. Earl (ed.), 1999. "Economic Organization and Economic Knowledge," Books, Edward Elgar Publishing, number 1401.
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    Cited by:

    1. Machiko Nissanke & Howard Stein, 2003. "Financial Globalization and Economic Development: Toward an Institutional Foundation," Eastern Economic Journal, Eastern Economic Association, vol. 29(2), pages 287-308, Spring.

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