A Minskyan criticism on the shareholder pressure approach of financialisation
Ilhan Dögüs
No 53, ZÖSS-Discussion Papers from University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS)
Abstract:
In this paper, the Post-Kaleckian approach on financialisation which argues that investment of Nonfinancial Corporations in real capital assets has been restricted by the rising dividend and interest payments due to shareholder pressure will be criticized based on a Minskyan understanding of investment. It will be put forward that, reinvestment of profits in capital assets has decreased because of declined quasi-rent expectations induced by depressed demand.
Keywords: financialisation; shareholder pressure; Minsky; capital assets; financial assets (search for similar items in EconPapers)
JEL-codes: E12 E22 E44 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-hpe, nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cessdp:53
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