The driving forces of financialisation

.

Chapter 5 in Financialisation, 2023, pp 99-121 from Edward Elgar Publishing

Abstract: The characteristics of financialisation that help identify the drivers include growth in the size and scope of financial markets, institutions and instruments; increasing power of the financial oligarchy; and increasing participation of ordinary people in financial transactions. Based on these characteristics, seven drivers of financialisation can be identified: deregulation, financial innovation, technology, shareholder value paradigm, market-based banking, government support, and support from academia. With all of these driving forces in place, impeding financialisation, let alone reversing it, will be rather difficult. Such a monumental task will require a change of culture away from the norms dictated by neoliberalism and the free market doctrine.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.elgaronline.com/view/9781803926582.00010.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21727_5

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().