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Financialisation and the Financial and Economic Crises: The Case of Spain

Jesus Ferreiro (), Catalina Gálvez and Ana González Flores

FESSUD studies from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project

Abstract: The aim of this paper is to analyse the relationship between the financial crisis and the real economic crisis in Spain. The main central hypothesis put forward by this study is that financialisation, which lies at the root of the financial crisis both in Spain and in other European and advanced economies, has also implied changes in the real and financial behaviour of private (i.e., households, non-financial corporations and financial corporations) and public agents that explain the extent and prolonged duration of the crisis in Spain.

Keywords: Financialisation; models of growth; consumption; investment; financial balance sheets; income distribution (search for similar items in EconPapers)
JEL-codes: E44 G21 O52 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2014-12-01
New Economics Papers: this item is included in nep-fdg and nep-mac
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