The relationships between financial systems and the macroeconomy with emphasis on the saving—investment relationships and the nature of money are set out. A ‘circuitist’ framework is extended to reflect some major features of the era of financialisation since circa 1980

This paper presents an introduction to the concept of systems of provision (sop) and illustrates some of the core themes by applying the sop framework to the study of the financialisation of housing and water. The sop approach considers consumption to be part of a chain of activity interlinked...

The presentation of financial regulation in Slovenia and its adaptation to the EU regulation reveals the importance of understanding the rationales behind the changes of the regulation and their consequences. They both depend on social and economic environment in the country, on its history, and...

The paper aims to study the evolution of the financial regulation and supervision in Hungary from 1987, the year when the foundations of the two-tier banking system were laid. After a brief overview of the history of the Hungarian financial system we turn our attention to the history of the...

In this paper, we analyse the ECB policy measures in place since the outbreak of the financial crisis. First, we discuss the categorisation of the measures implemented by the ECB. Second, we study the phases of the crises and the concrete policy responses. Third, we conduct a comparative...

Germany’s recent export successes and the fast recovery from the 2007 -2009 crisis made it Europe’s “economic superstar” in public opinion. This paper interprets the German performance against the background of financialisation. After an examination of the pre-crisis demand and growth...

The reasons and implications of different understandings of the ongoing financial crisis may be thoroughly assessed by starting the investigation from a taxonomy of the competing visions of the capitalist system and of the approach required to understand it. This paper focuses in particular on...

In this report we discuss the factors driving the growth of the global financial sector that are considered by many authors (e.g. Toporowski,1999 and Orhangazi, 2008) to have precipitated the financial crisis of 2007-2008. Our analysis focuses on the behavior of the different types of financial...