2026-07-13T22:41:34Zhttps://docta.ucm.es/rest/oai/requestoai:docta.ucm.es:20.500.14352/527062024-10-10T15:05:12Zcom_20.500.14352_14col_20.500.14352_15
Docta Complutense
author
Lapavitsas, Costas
2023-06-20T12:52:05Z
2023-06-20T12:52:05Z
2009
1989-5917
https://hdl.handle.net/20.500.14352/52706
http://revistas.ucm.es/index.php/PADE/
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.
eng
Atribución 3.0 España
Financialisation embroils developing countries
journal article
URL
https://docta.ucm.es/bitstreams/e90b1694-ff42-4f4d-a388-60299f8d2630/download
File
MD5
391fbca7e1a87eee9c98539e92bdedc0
719476
application/pdf
2009-19(108-139).pdf
URL
https://docta.ucm.es/bitstreams/60666a2f-06a0-4eeb-96ff-977138fe3408/download
File
MD5
23e8751678f777d04d48cd8d1ad7c95f
65461
text/plain
2009-19(108-139).pdf.txt