The Rise of Finance
Causes, Consequences and Cures
Seiten
2019
Cambridge University Press (Verlag)
978-1-108-48234-9 (ISBN)
Cambridge University Press (Verlag)
978-1-108-48234-9 (ISBN)
This book examines the rise of financialisation globally, charting its drawbacks and prescribing suggestions for a definitive overhaul of the structure. It brings together various strands of latest research and evidence, empirical analysis, and views of reputed experts in the field.
Financialisation, or the disproportionate importance of financial considerations in economic decisions, has been a defining feature of the economic history of the last twenty-five years. The wave of deregulation that accompanied the neoliberal agenda in the US, aided by the dominance of US dollar and American economy, has resulted in the globalisation of finance. This book examines the rise of financialisation globally, while charting its drawbacks and prescribing suggestions for a definitive overhaul of the structure. Bringing together various strands of the latest research and evidence generated in recent years, empirical analysis, and views of reputed experts in the field, it presents a counter-point to the canonical ideas of analysing financial market dynamics and financial globalisation. It proposes a revision of the current monetary policy paradigm to correct its excessive focus on equity markets and their 'wealth effect', embrace a more symmetric response to the economic cycle, and a mandate to focus on financial stability as much as price stability.
Financialisation, or the disproportionate importance of financial considerations in economic decisions, has been a defining feature of the economic history of the last twenty-five years. The wave of deregulation that accompanied the neoliberal agenda in the US, aided by the dominance of US dollar and American economy, has resulted in the globalisation of finance. This book examines the rise of financialisation globally, while charting its drawbacks and prescribing suggestions for a definitive overhaul of the structure. Bringing together various strands of the latest research and evidence generated in recent years, empirical analysis, and views of reputed experts in the field, it presents a counter-point to the canonical ideas of analysing financial market dynamics and financial globalisation. It proposes a revision of the current monetary policy paradigm to correct its excessive focus on equity markets and their 'wealth effect', embrace a more symmetric response to the economic cycle, and a mandate to focus on financial stability as much as price stability.
V. Anantha Nageswaran teaches International Economics and Financial markets to Graduate students at the Singapore Management University and at the Indian Institute of Management in Bangalore, India. Gulzar Natarajan joined the Indian Administrative Service in 1999 and is currently Director in the Office of the Prime Minister of India.
List of figures; List of tables and boxes; Foreword; Prologue; Part I. The Causes: 1. Introduction; 2. The rise of finance: origins; Part II. The Consequences: 3. Wages, compensation and inequality; 4. The monetary policy framework; 5. Consequences of unconventional monetary policy; Part III. The Cure: 6. The way forward; 7. Finance in India; 8. Conclusion; Index.
| Erscheinungsdatum | 23.05.2019 |
|---|---|
| Zusatzinfo | Worked examples or Exercises |
| Verlagsort | Cambridge |
| Sprache | englisch |
| Maße | 160 x 235 mm |
| Gewicht | 500 g |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management |
| Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie | |
| ISBN-10 | 1-108-48234-1 / 1108482341 |
| ISBN-13 | 978-1-108-48234-9 / 9781108482349 |
| Zustand | Neuware |
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