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Financialisation and the Financial and Economic Crises

Country Studies Edited by Eckhard Hein, Daniel Detzer and Nina Dodig, The Institute for International Political Economy (IPE), Berlin School of Economics and Law, Germany
The contributions to this book provide detailed accounts of the long-term effects of financialisation and cover the main developments leading up to and during the crisis in 11 selected countries: the US, the UK, Spain, Greece, Portugal, Germany, Sweden, Italy, France, Estonia, and Turkey. The introductory chapter presents the theoretical framework and synthesizes the main findings of the country studies. Furthermore, the macroeconomic effects of financialisation on the EU as a whole are analysed in the final chapter.
Extent: 352 pp
Hardback Price: $147.00 Web: $132.30
Publication Date: 2016
ISBN: 978 1 78536 237 8
Availability: In Stock
Paperback Price: $45.00 Web: $36.00
Publication Date: 2017
ISBN: 978 1 78811 682 4
Availability: In Stock
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  • Economics and Finance
  • Financial Economics and Regulation
  • Post-Keynesian Economics
Financialisation and the Financial and Economic Crises provides comparative, empirical case studies of a diverse set of eleven countries. In particular, the book helps in understanding the current (mal)performance of Euro area economies by explaining the causes of the shifts in growth regimes during and after the crises. It goes well beyond the dominant interpretation of the recent financial and economic crises as being rooted in malfunctioning and poorly regulated financial markets.

The contributions to this book provide detailed accounts of the long-term effects of financialisation and cover the main developments leading up to and during the crisis in 11 selected countries: the US, the UK, Spain, Greece, Portugal, Germany, Sweden, Italy, France, Estonia, and Turkey. The introductory chapter presents the theoretical framework and synthesizes the main findings of the country studies. Furthermore, the macroeconomic effects of financialisation on the EU as a whole are analysed in the final chapter.

Offering an illuminating overview and invaluable alternative perspective on the long-run developments leading to the recent crises, this book is essential reading for researchers, students and policymakers and an ideal starting point for further research.
Contributors: S. Bahçe, R. Barradas, C.A. Carrasco, H. Cömert, G. Cornilleau, J. Creel, D. Detzer, N. Dodig, N. Erdem, T. Evans, J. Ferreiro, G. Gabbi, C. Gálvez, C. Gomez, A. González, E. Hein, E. Juuse, E. Karaçimen, A.H. Köse, S. Lagoa, E. Leão, J. Lepper, Ö. Orhangazi, G. Özgür, R. Paes Mamede, M. Shabani, A. Stenfors, E. Ticci, J. Toporowski, L. Tserkezis, J. Tyson, Y. Varoufakis, P. Vozzella, G.L. Yalman
Contents:

Preface

1. Financialisation and the Financial and Economic Crises: Theoretical Framework and Empirical Analysis for 15 Countries
Nina Dodig, Eckhard Hein and Daniel Detzer

2. The Crisis of Finance-led Capitalism in the United States
Trevor Evans

3. Monetary Adjustment and Inflation of Financial Claims in the UK after 1980
John Lepper, Mimoza Shabani, Jan Toporowski and Judith Tyson

4. Financialisaton and the Economic Crisis in Spain
Jesús Ferreiro, Cataliana Gálvez and Anna Gonzáles

5. Financialisation and the Crisis: The Case of Greece
Yanis Varoufakis and Lefteris Tserkezis

6. The Real Sector Developments in Estonia – Financialisation Effects Behind the Transition Process
Egert Juuse

7. Financialisation and the Crisis in the Export-led Mercantilist German Economy
Daniel Detzer and Eckhard Hein

8. Swedish Financialisation: ‘Nordic Noir’ or ‘Safe Haven’?
Alexis Stenfors

9. France, a Domestic Demand-led Economy Under the Influence of External Shocks
Gérard Cornilleau and Jérôme Creel

10. The Transmission Channels Between the Financial and the Real Sectors in Italy and the Crisis
Giampaolo Gabbi, Elisa Ticci and Pietro Vozzella

11. The Long Boom and the Early Bust: The Portuguese Economy in the Era of Financialisation
Ricardo Paes Mamede, Sérgio Lagoa, Emanuel Leão and Ricardo Barradas

12. Financialisation and the Financial and Economic Crises: The Case of Turkey
Serdal Bahçe, Hasan Cömert, Nilgün Erdem, Elif Karaçimen, Ahmet Haşim Köse, Özgür Orhangazi, Gökçer Özgür and Galip L.Yalman

13. The Impact of the Financial and Economic Crisis on European Union Member States
Carlos A. Carrasco, Jesus Ferreiro, Catalina Galvez, Carmen Gomez and Ana González

Index