Financial Capital Overaccumulation

Sara Hsu

MPRA Paper from University Library of Munich, Germany

Abstract: Overaccumulation 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.

Keywords: finance; speculation; overaccumulation; accumulation; growth model; growth (search for similar items in EconPapers)
JEL-codes: G01 O40 (search for similar items in EconPapers)
Date: 2012-10-02
New Economics Papers: this item is included in nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41698

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