Use this url to cite publication: https://cris.mruni.eu/cris/handle/007/17875
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Financialization and Its Link with Long-Run Growth
Type of publication
Tezės kitame recenzuojamame leidinyje / Theses in other peer-reviewed publication (T1e)
Type of publication (old)
T1e
Author(s)
Šetikienė, Agnė |
Title
Financialization and Its Link with Long-Run Growth
Date Issued
2020
Is part of
Social Transformations in Contemporary Society 2020: The 8th International Scientific Conference for Young Researchers: Abstract Book, 4-5 June, 2020, Vilnius-Net / Mykolas Romeris University; Doctoral Candidates‘ Association. ISSN 2424-5631
Field of Science
Abstract
Each country’s financial system is a part of the global financial system. Economies of all countries become more and more globalized including their financial systems. Financialization, i.e. the process in which financial markets and their participants gain more influence over the functioning of enterprises/companies and the framework of the financial system, changes the functioning of the economic system, both at the macro- and microeconomic level. It results not just in increasing the importance of the financial sector in relation to the real sector, but as well as in transferring the income from the real economy to the financial sector, contributing to the growth of income inequality and stagnant wages (Orhangazi, 2008; Tamašauskienė et al., 2016). Purpose – this paper deals with the question concerning global aspects of financialization and its aim is twofold: (i) overviewing recent contributions in this field to define financialization, briefly narrate its genesis emphasizing problems caused by financialization and (ii) to analyse the globalization aspect of financialization over the last half of the century at country level examining whether and to what extent this aspect of globalization is spread out across different regions and income groups and how it is linked with long-run growth.
Type of document
type::text::journal::journal article::research article
Language
Anglų / English (en)
Creative Commons License
Access Rights
Atviroji prieiga / Open Access