Evolution of the financial sector – three different stages: repression, development and financialisation

Detalhes bibliográficos
Autor(a) principal: Barradas, Ricardo
Data de Publicação: 2015
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/10731
Resumo: Working papers com arbitragem científica
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spelling Evolution of the financial sector – three different stages: repression, development and financialisationFinancial repressionFinancial liberalisation and DeregulationFinancial developmentExcessive financial deepeningFinancialisationDe-financialisationWorking papers com arbitragem científicaThis paper makes a systematic literature review on the evolution of the financial sector in the last decades all over the world, but especially in the more developed countries. This evolution was marked by three different stages, reflecting different impacts of the financial sector on the real economy and on society. The first stage – financial repression – is characterised by the existence of several regulations and restrictions on the financial sector, which proved to be detrimental to support economic growth. This legitimised the financial liberalisation and deregulation of the financial sector in the recent years, representing the second stage – financial development. Consequently, there was a strong growth of the financial sector in subsequent years, originating an excessive financial deepening and casting doubts around the advantages provided by the financial sector. In fact, excessive financial deepening weakened or reversed the relationship between savings and investments. The large growth of the financial sector and its deleterious effects are commonly referred as financialisation, constituting the third stage. The paper concludes that it is necessary to engage in a fourth stage in the coming years – de-financialisation – in order to re-establish a more supportive relationship between the financial sector and economic growth and presents several policy recommendations around this matter.Dinamiacet - IULRCIPLBarradas, Ricardo2018-02-24T12:50:49Z2015-122015-12-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/10731engDOI: 10.15847/dinamiacet-iul.wp.2015.08info: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:RCAAP2023-08-03T09:55:06Zoai:repositorio.ipl.pt:10400.21/8128Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:16:56.780837Repositório 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 Evolution of the financial sector – three different stages: repression, development and financialisation
title Evolution of the financial sector – three different stages: repression, development and financialisation
spellingShingle Evolution of the financial sector – three different stages: repression, development and financialisation
Barradas, Ricardo
Financial repression
Financial liberalisation and Deregulation
Financial development
Excessive financial deepening
Financialisation
De-financialisation
title_short Evolution of the financial sector – three different stages: repression, development and financialisation
title_full Evolution of the financial sector – three different stages: repression, development and financialisation
title_fullStr Evolution of the financial sector – three different stages: repression, development and financialisation
title_full_unstemmed Evolution of the financial sector – three different stages: repression, development and financialisation
title_sort Evolution of the financial sector – three different stages: repression, development and financialisation
author Barradas, Ricardo
author_facet Barradas, Ricardo
author_role author
dc.contributor.none.fl_str_mv RCIPL
dc.contributor.author.fl_str_mv Barradas, Ricardo
dc.subject.por.fl_str_mv Financial repression
Financial liberalisation and Deregulation
Financial development
Excessive financial deepening
Financialisation
De-financialisation
topic Financial repression
Financial liberalisation and Deregulation
Financial development
Excessive financial deepening
Financialisation
De-financialisation
description Working papers com arbitragem científica
publishDate 2015
dc.date.none.fl_str_mv 2015-12
2015-12-01T00:00:00Z
2018-02-24T12:50:49Z
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/10071/10731
url http://hdl.handle.net/10071/10731
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv DOI: 10.15847/dinamiacet-iul.wp.2015.08
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Dinamiacet - IUL
publisher.none.fl_str_mv Dinamiacet - IUL
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
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