The Financialization of Modern Economies in Monetary Circuit Theory

Marc Pilkington

Chapter 10 in The Political Economy of Monetary Circuits, 2009, pp 188-216 from Palgrave Macmillan

Abstract: Abstract It is an accepted fact at the time of writing that financial phenomena have the ability to wreak havoc on the economy. As Fahrer (2007, p. 21) notes: the financial economy is growing to a level where it is starting to influence more profoundly the fundamentals of the real economy […]. Regulators are focusing much more on asset bubble risks or a potential hedge fund crisis with risks crystallising in the financial economy because of the wash-over effects on the real economy.

Keywords: Financial Market; Balance Sheet; Commercial Bank; Hedge Fund; Financial Intermediation (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1057/9780230245723_10

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