THE FINANCIALIZATION OF THE ECONOMY. VIEWS FROM THE INSTITUTIONAL PERSPECTIVE
THE FINANCIALIZATION OF THE ECONOMY. VIEWS FROM THE INSTITUTIONAL PERSPECTIVE

Summary/Abstract: In the economic literature the idea of financialization is becoming more and more popular. The main aim of this paper is to look at financialization from the perspective of institutional economics. The nature of financialization as well as its history and manifestations are also presented. In author’s opinion, financialization is a manifestation of the next stage of development of the market economy, especially in the most developed countries. Its origins lie in both economic phenomena as well as the socio-cultural, including the area of political life. Economists, regardless to what extent they are convinced of the specific role of financialization, should take into account the consequences of this phenomenon in their academic and research efforts, as well as the needs to integrate considerations regarding the financial sector and the real economy.

• Details
• Contents