Financialization and the US economy

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Edward Elgar,
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Profound transformations have taken place both in the US and the globaleconomy, especially in the realm of finance. Financial markets andtransactions have been growing continuously in size and in importancewhile finance in general has acquired an increasingly prominent position inthe economy. Özgür Orhangazi brings together a comprehensive analysisof financialization in the US economy that encompasses the historical,theoretical, and empirical sides of the issues. He explores the origins andconsequences of the dramatic rise of financial markets in the US economyand focuses on the impacts of this process of ‘financialization’ on theoperations of the non-financial corporate sector.The book starts with a brief review of the meaning of financialization, then documents its factual context, before moving on to provide a historical perspective on its evolution and proximate causes. Next, the book compares various theoretical and empirical perspectives in an attempt to clarify the limits of our knowledge and outline what we know about the phenomenon and what we do not. In the second part, the author further explores the relationship between the financial and nonfinancial sectors of the economy and focuses on the effects of financialization on capital accumulation. The author provides a framework for analyzing this relationship and offers evidence that the increase in nonfinancial corporations’ (NFCs) financial investment rates and payments to financial markets have had negative effects on the real investment rates of NFCs.Scholars and students working on the issues of financialization or interested in financial markets, investment, and capital accumulation will find this a valuable addition to their collection, as will the serious general reader who wants to learn more about the causes and effects of the transformation of financial markets.
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Grouped Work ID 0de5a67a-59ad-9131-2e70-a5dadf9be8f4
Grouping Title financialization and the us economy
Grouping Author orhangazi özgür
Grouping Category book
Last Grouping Update 2018-08-06 04:40:45AM
Last Indexed 2018-08-17 04:58:06AM

Solr Details

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author Orhangazi, Özgür, 1977-
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series New directions in modern economics
series_with_volume New directions in modern economics|
title_display Financialization and the US economy
title_full Financialization and the US economy / Özgür Orhangazi
title_short Financialization and the US economy