In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution in the US over the 1968-2014 period. We show that the labour share is affected negatively by personal inequality, capital intensity and...

Since the Great Recession of 2007-9 the financialisation of the US economy has reached a watershed characterised by stagnant financial profits, falling mortgage debt and rising public debt. The reliance of households on the formal financial system appears to have weakened for the first time in...

Commodity price volatility remains a crucial development challenge of commodity-dependent countries of the Global South. Drawing on structural development economics' concerns with commodity price volatility and stabilisation, this article calls for the integration of price-setting into the...

Commodity price volatility remains a crucial development challenge of commodity-dependent countries of the Global South. Drawing on structural development economics' concerns with commodity price volatility and stabilisation, this article calls for the integration of price-setting into the...

In this paper, the Post-Kaleckian approach on financialisation which argues that investment of Nonfinancial Corporations in real capital assets has been restricted by the rising dividend and interest payments due to shareholder pressure will be criticized based on a Minskyan understanding of...

In the last thirty years, the world’s economies have changed significantly. New technology developments have enabled the transition from the industrial economy to the network economy. The network economy is based on information technology, connectivity and human knowledge. Its development has...

Most empirical macroeconomic research limited to the period since World War II. This paper analyses the effects of changes in income distribution and in private wealth on consumption and investment covering a period from as early as 1855 until 2010 for the UK, France, Germany and USA, based on...

This article contributes to the literature on the financial constraints of innovation in two ways. First, we examine whether financialisation has transformed the relation between finance and innovation by assessing the association between companies' financial relations, both on the liability...

This study investigates whether information sharing channels that are meant to reduce information asymmetry have led to an increase in financial access. The study employs a Generalised Method of Moments technique using data from 53 African countries during the period from 2004-2011 to examine...

The re-distribution of income from labour to capital, from workers to top-managers, and from low income households to the rich has been an important feature of financedominated capitalism since the early 1980s. After the Great Financial Crisis and the Great Recession in 2007-9, the recovery has...

Since the early 1980s, financialisation has become an increasingly important trend in developed capitalist countries, with different beginnings, speed and intensities in different countries. Rising inequality has been a major feature of this trend. Shares of wages in national income have...

Since the early 1980s, financialisation has become an increasingly important trend in developed capitalist countries, with different beginnings, speed and intensities in different countries. Rising inequality has been a major feature of this trend. Shares of wages in national income have...

Most empirical macroeconomic research limited to the period since World War II. This paper analyses the effects of changes in income distribution and in private wealth on consumption and investment covering a period from as early as 1855 until 2010 for the UK, France, Germany and USA, based on...

This article contributes to the literature on the financial constraints of innovation in two ways. First, we examine whether financialisation has transformed the relation between finance and innovation by assessing the association between companies' financial relations, both on the liability...

This study investigates whether information sharing channels that are meant to reduce information asymmetry have led to an increase in financial access. The study employs a Generalised Method of Moments technique using data from 53 African countries during the period from 2004-2011 to examine...

The re-distribution of income from labour to capital, from workers to top-managers, and from low income households to the rich has been an important feature of financedominated capitalism since the early 1980s. After the Great Financial Crisis and the Great Recession in 2007-9, the recovery has...

How entrepreneurs plan their business and build their companies plays a central role in how academia-industry-government relations are shaped in a particular region. But how do specific regional styles of building companies and understanding these relations develop? This paper conceptualises the...

How entrepreneurs plan their business and build their companies plays a central role in how academia-industry-government relations are shaped in a particular region. But how do specific regional styles of building companies and understanding these relations develop? This paper conceptualises the...

En los trabajos reunidos en este libro se analizan los efectos y la lógica de la financierización en las economías en desarrollo, la llamada financierización periférica, en particular en los países de América Latina. En los primeros capítulos del libro se ofrece una mirada histórica y...

Financialisation in Iceland should be seen as an evolving process driven by a mixture of global and domestic forces. Responding to fundamental issues underlying macroeconomic imbalances, the authorities introduced policies that proved particularly supportive of financial expansion at a time when...

This paper analyses the long-run effects of financialisation and of the recent financial and economic crises for 15 countries. In order to provide a theoretical framework, we first outline three types of regimes under the conditions of financialisation, namely a debtled private demand boom, an...

This study on Germany examines the long-run changes between the financial and the non-financial sectors of the economy, and in particular the effects of these changes on the macroeconomic developments that have led or contributed to the financial crisis starting in 2007 and the Great Recession...

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 regime,...

In this paper we review the empirical and theoretical literature on the effects of changes in the relationship between the financial sector and the non-financial sectors of the economy associated with 'financialisation' on distribution, growth, instability and crises. We take a macroeconomic...

This paper surveys some of the important literatures on financial, economic and social systems with an eye towards explaining the tendencies towards 'financialisation'. We focus on important strands of this literature: the French Regulation School, the US-based Social Structures of Accumulation...

In this paper we analyse the effects of financialisation on income distribution, before and after the Great Financial Crisis and the Great Recession. The focus is on functional income distribution and thus on the relationship between financialisation and the wage share or the gross profit share....

The ratio of financial to non-financial profits in the US economy has increased sharply since the 1970s, the period that is often called the financialisation of capitalism. By developing a two-sector theoretical model the ratio of financial to non-financial profits is shown to depend positively...

Since the Great Recession of 2007-9 the financialisation of the US economy has reached a watershed characterised by stagnant financial profits, falling mortgage debt and rising public debt. The reliance of households on the formal financial system appears to have weakened for the first time in...

In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution in the US over the 1968-2014 period. We show that the labour share is affected negatively by personal inequality, capital intensity and...

Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial...

This paper argues that the re-emergence of stagnation tendencies in modern capitalism can be related to financialisation and its macroeconomic failures leading to the recent crises, and in particular to the macroeconomic responses towards the crisis and the respective regime shifts in mature...

It has already been pointed out in the literature on financialisation that private pension funds have played a key role in the inflation of financial markets. This paper argues that an increase in wage dispersion between white-collar and blue-collar workers affects pension funds in a direct and...

It has already been pointed out in the literature on financialisation that private pension funds have played a key role in the inflation of financial markets. This paper argues that an increase in wage dispersion between white-collar and blue-collar workers affects pension funds in a direct and...

This paper argues that the re-emergence of stagnation tendencies in modern capitalism can be related to financialisation and its macroeconomic failures leading to the recent crises, and in particular to the macroeconomic responses towards the crisis and the respective regime shifts in mature...

In this paper we analyse the effects of financialisation on income distribution, before and after the Great Financial Crisis and the Great Recession. The focus is on functional income distribution and thus on the relationship between financialisation and the wage share or the gross profit share....

The ratio of financial to non-financial profits in the US economy has increased sharply since the 1970s, the period that is often called the financialisation of capitalism. By developing a two-sector theoretical model the ratio of financial to non-financial profits is shown to depend positively...

Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial...

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...