Financialisation: Structure, Extent, Consequences

Aurel Iancu

Journal for Economic Forecasting, 2013, issue 2, 172-192

Abstract: Financialisation is a complex and dynamic process of enlarging the monetary and financial relations in economy and society. This paper deals with the analysis of the financial market structure, such as: the role and magnitude of financial sectors, the dynamics of the banking sector versus the stock market and the rising role of the shadow banking sector. Also, it explains and analyzes the ways and modalities to develop financialisation by growing the public and private indebtedness, extension of the securitisation process and using the financial derivatives on a large scale. Considered as endogenous factors, they all increase the fragility of the financial system.

Keywords: financialisation; financial sector; stock market; shadow banking; indebtedness; financial innovation; securitisation; financial derivatives (search for similar items in EconPapers)
JEL-codes: E44 G01 G18 G23 G24 G28 G32 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2013:i:2:p:172-192

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