Long-Term Trends in Intra-Financial Sector Lending in the United States (1950–2012)

Juan Montecino (), Gerald Epstein and Iren Levina ()
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Gerald Epstein: Department of Economics and Political Economy Research Institute (PERI), University of Massachusetts

Eastern Economic Journal, 2016, vol. 42, issue 4, No 8, 629 pages

Abstract: Abstract This paper examines the evolution of intra-financial sector lending in the United States, 1950–2012, constructing estimates from the Federal Reserve’s Flow of Funds Accounts. Lending between financial institutions has grown nearly five-fold since the 1950s and currently accounts for roughly half of all financial sector lending. In the run up to the financial crisis of 2007–2008, the growth of intra-financial lending was concentrated in assets highly implicated in the genesis of the crisis, suggesting that this growth may have contributed to the crisis. This growth in intra-financial lending also raises questions about the contribution of the financial sector to the real economy.

Keywords: finance; intra-financial lending; financial crisis; G01; G10; G20 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (6)

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DOI: 10.1057/eej.2015.1

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