Aviso: para depositar documentos, por favor, inicia sesión e identifícate con tu cuenta de correo institucional de la UCM con el botón MI CUENTA UCM. No emplees la opción AUTENTICACIÓN CON CONTRASEÑA
 

Financialisation embroils developing countries

Loading...
Thumbnail Image

Official URL

Full text at PDC

Publication date

2009

Advisors (or tutors)

Editors

Journal Title

Journal ISSN

Volume Title

Publisher

Instituto Complutense de Estudios Internacionales (ICEI)
Citations
Google Scholar

Citation

Abstract

Financialisation of developed countries includes increased lending to individuals as well as adoption of investment banking by commercial banks, thus contributing directly to the crisis of 2007-9. Financialisation has acquired an international aspect since the 1990s, primarily through liberalised capital flows. In the 2000s international financialisation has resulted in net capital flows from developing to developed countries, thus imposing substantial costs on the former, while subsidising the USA as leading issuer of quasiworld- money. International financialisation has also spurred domestic financialisation in developing countries through development of bond markets and foreign bank entry. Developing countries have been drawn into the crisis as current accounts declined and short-term capital flows were reversed.

Research Projects

Organizational Units

Journal Issue

Description

Keywords

Collections