FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10316/99370 https://doi.org/10.9770/jesi.2022.9.3(11) |
Resumo: | he role of financial sector has increased significantly since the 1980s, introducing a new term or phenomenon i.e. the financialization of the economy. There is still some imprecision about the nature and dynamics of financialization, including its impact on the economy. The main task of the financial sector is to allocate funds for its most productive use, while ensuring sustainable development. Recent studies show that excessive financial deepening negatively impacts the economies of developed countries, but is this true for post-transition economies? The aim of this paper is to look into the relationship between financialization and the state of a small and post-transition economy, the Latvian economy. Using a European database and methodological framework we analyze this relationship in Latvia between 1999Q1 and 2017Q4. In our study, we apply the standard Vector Auto-Regressive model (VAR). Our research results do not indicate that financialization causes significant changes in the state of the Latvian economy. The interpretation of this result is related to the degree of financial deepening in Latvia |
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FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMYfinancialization; post-transition economy; sustainable development; small and open economy; economic policyhe role of financial sector has increased significantly since the 1980s, introducing a new term or phenomenon i.e. the financialization of the economy. There is still some imprecision about the nature and dynamics of financialization, including its impact on the economy. The main task of the financial sector is to allocate funds for its most productive use, while ensuring sustainable development. Recent studies show that excessive financial deepening negatively impacts the economies of developed countries, but is this true for post-transition economies? The aim of this paper is to look into the relationship between financialization and the state of a small and post-transition economy, the Latvian economy. Using a European database and methodological framework we analyze this relationship in Latvia between 1999Q1 and 2017Q4. In our study, we apply the standard Vector Auto-Regressive model (VAR). Our research results do not indicate that financialization causes significant changes in the state of the Latvian economy. The interpretation of this result is related to the degree of financial deepening in Latvia2022-03-30info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10316/99370http://hdl.handle.net/10316/99370https://doi.org/10.9770/jesi.2022.9.3(11)engISSN 2345-0282https://jssidoi.org/jesi/uploads/articles/35/Stawska_Financialization_curse_or_salvation_The_case_of_Latvia_a_small_and_posttransition_economy.pdfStawska, JoannaRupeika-Apoga, RamonaMalaczewski, MaciejD. Czechowska, IwonaSol Murta, Fatimainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-03-18T21:56:53Zoai:estudogeral.uc.pt:10316/99370Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:16:32.006855Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
title |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
spellingShingle |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY Stawska, Joanna financialization; post-transition economy; sustainable development; small and open economy; economic policy |
title_short |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
title_full |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
title_fullStr |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
title_full_unstemmed |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
title_sort |
FINANCIALIZATION: CURSE OR SALVATION? THE CASE OF LATVIA, A SMALL AND POST- TRANSITION ECONOMY |
author |
Stawska, Joanna |
author_facet |
Stawska, Joanna Rupeika-Apoga, Ramona Malaczewski, Maciej D. Czechowska, Iwona Sol Murta, Fatima |
author_role |
author |
author2 |
Rupeika-Apoga, Ramona Malaczewski, Maciej D. Czechowska, Iwona Sol Murta, Fatima |
author2_role |
author author author author |
dc.contributor.author.fl_str_mv |
Stawska, Joanna Rupeika-Apoga, Ramona Malaczewski, Maciej D. Czechowska, Iwona Sol Murta, Fatima |
dc.subject.por.fl_str_mv |
financialization; post-transition economy; sustainable development; small and open economy; economic policy |
topic |
financialization; post-transition economy; sustainable development; small and open economy; economic policy |
description |
he role of financial sector has increased significantly since the 1980s, introducing a new term or phenomenon i.e. the financialization of the economy. There is still some imprecision about the nature and dynamics of financialization, including its impact on the economy. The main task of the financial sector is to allocate funds for its most productive use, while ensuring sustainable development. Recent studies show that excessive financial deepening negatively impacts the economies of developed countries, but is this true for post-transition economies? The aim of this paper is to look into the relationship between financialization and the state of a small and post-transition economy, the Latvian economy. Using a European database and methodological framework we analyze this relationship in Latvia between 1999Q1 and 2017Q4. In our study, we apply the standard Vector Auto-Regressive model (VAR). Our research results do not indicate that financialization causes significant changes in the state of the Latvian economy. The interpretation of this result is related to the degree of financial deepening in Latvia |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-03-30 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10316/99370 http://hdl.handle.net/10316/99370 https://doi.org/10.9770/jesi.2022.9.3(11) |
url |
http://hdl.handle.net/10316/99370 https://doi.org/10.9770/jesi.2022.9.3(11) |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
ISSN 2345-0282 https://jssidoi.org/jesi/uploads/articles/35/Stawska_Financialization_curse_or_salvation_The_case_of_Latvia_a_small_and_posttransition_economy.pdf |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799134061584711680 |