Financialization, neo-liberalism, and securitization

@article{Lavoie2012FinancializationNA,
  title={Financialization, neo-liberalism, and securitization},
  author={M. Lavoie},
  journal={Journal of Post Keynesian Economics},
  year={2012},
  volume={35},
  pages={215 - 233}
}
  • M. Lavoie
  • Published 2012
  • Economics
  • Journal of Post Keynesian Economics
The financial crisis can be explained as the ultimate result of the gradual move towards neoliberal policies and the acceptance of neoliberal economic theories. The purchasing power of ordinary workers and consumers has been constrained by the evolution of six economic features: environmental issues, globalization, sound finance, the focus of central banks on inflation, and the new views on corporate governance, based on shareholder value and money manager capitalism. The generalization of… Expand
Understanding the global financial crisis: contributions of post-Keynesian economics
Abstract Post-Keynesian economics has greatly improved our understanding of the causes as well as some of the consequences of the Global Financial Crisis. This paper deals with some examples relatedExpand
Shadow banking and the financial side of financialization
This paper tries to shed some light on the nature and functioning of shadow banking, with a special focus on its role in the evolution of financialization as well as in sharpening income and wealthExpand
The colonization of the future: An alternative view of financialization and its portents
ABSTRACT Financialization is generally interpreted by heterodox economists to be a dysfunctional and thus historically transient outgrowth of contemporary capitalism: dysfunctional because it is seenExpand
Advances in the Post-Keynesian Analysis of Money and Finance
This chapter focuses on the various monetary themes that have been emphasized by post-Keynesian economists and that turned out to have been validated by the events that occurred during and after theExpand
Financialization, securitization and the decline of pubs in Britain
Pubs in Britain are closing at a rapid rate. While changing regulatory, demographic and consumer trends have weakened the viability of pubs businesses in recent years, less is known about the roleExpand
A Crisis of the Overcrowded Future: Shadow Banking and the Political Economy of Financial Innovation
This article focuses on the role the shadow banking system played in the financial crisis of 2007–9. Engaging with emergent theories of shadow banking, I inquire into its structural role inExpand
A Moloch demanding the whole world as a sacrifice
Financialization has substantially transformed accumulation dynamics in advanced capitalist economies and societies. The paper proposes a sociological model of financial circulation that maps theExpand
Does Securitisation Make Monetary Policy Less Effective?
We re-examine the role of monetary policy and its transmission mechanism through credit channel while focusing on securitisation. We empirically investigate the interactions between securitisationExpand
Conditionality and Structural Adjustment Programmes
Conditionality requires any country seeking financial assistance from the IMF to observe and meet certain conditions, which are embodied in structural adjustment programmes; otherwise their requestsExpand
Globalization of Financial Capitalism and Its Impact on Financial Sovereignty
1. IntroductionAs a form of capitalism, financial capitalism is such an economic system that financial capital dominates the political, economic, and social lives of a society and that wealth isExpand
...
1
2
3
4
...

References

SHOWING 1-10 OF 29 REFERENCES
Financialisation and the slowdown of accumulation
Over the past decades, the financial investment of non-financial businesses has been rising, and the accumulation of capital goods has been declining. The first part of the paper offers a novelExpand
Securitization
We survey the literature on securitization and lay out a research program for its open questions. Securitization is the process by which loans, previously held to maturity on the balance sheets ofExpand
Capital Inflows: The Role of Controls
With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countriesExpand
Insuring Against Private Capital Flows: Is it Worth the Premium? What are the Alternatives?
Following an analysis of the forces behind the "global capital flows paradox" observed in the era of advancing financial globalization, this paper sets out to investigate the opportunity costs ofExpand
Financialisation and capital accumulation in the non-financial corporate sector:A theoretical and empirical investigation on the US economy: 1973–2003
Recent research has explored the growing ‘financialization’ process in the U.S. and other advanced economies. The term is a catch-all phrase used to denote important changes in the structure ofExpand
Managerial Capitalism by Any Other Name
The author claims that the more managerial capitalism changes, the more it remains the same. He begins by analyzing John Kenneth Galbraith's description of corporate structure in the 1950s and 1960s.Expand
Will Global Capitalism be Anglo-Saxon Capitalism?
Once ‘the Labour Movement’ really was a ‘movement’, with an organisational complex, part industrial, part political and a programme for social transformation from capitalism to socialism. Today,Expand
Foundations of Post-Keynesian Economic Analysis
This innovative book demonstrates that it is possible to construct a coherent alternative to neoclassical economics based on the contributions of post-Keynesian and Kaleckian economists. ItExpand
Systemic Risk, Financial Innovations, and the Financial Safety Net
Money does not manage itself. This was Bagehot’s contention, backed up by his large experience with the London money market. He drew operational conclusions and stated what is known to be theExpand
Control fraud, gambling for resurrection, and moral hazard: Accounting for white-collar crime in the savings and loan crisis
Abstract This paper reviews the relevant literature regarding the role of control fraud, or major frauds committed by controlling organizational insiders, in the savings and loan crisis. Using bothExpand
...
1
2
3
...