Financing, economic growth and functionality of the financial system: a keynesian approach

Detalhes bibliográficos
Autor(a) principal: Paula, Luiz Fernando de
Data de Publicação: 2013
Tipo de documento: Artigo
Idioma: por
Título da fonte: Estudos Econômicos (São Paulo)
Texto Completo: https://www.revistas.usp.br/ee/article/view/56410
Resumo: This paper analyzes the role of the financial system to economic growth, and the conceptof ‘functionality’ of the financial system under a Post Keynesian approach. It arguesthat in such theoretical approach a functional financial system is that supplies creditin order to meet the agents’ liquidity needs so that they can effectuate their expenditures,and at the same time is able to create suitable financial tools to fund the shortterm debts of the investors’ firms. Therefore, such financial system can allow a highercapital accumulation rate that would be able by the simple accumulation of previoussavings. The paper stresses that the concept of financial system functionality presumesthe existence of a diversified structure of financial institutions and financial assets thatare able to offer financing alternatives to the agents’ (mainly firms) expenditures.
id USP-14_b38c9efa6ec623504183605669508e5b
oai_identifier_str oai:revistas.usp.br:article/56410
network_acronym_str USP-14
network_name_str Estudos Econômicos (São Paulo)
repository_id_str
spelling Financing, economic growth and functionality of the financial system: a keynesian approachFinanciamento, crescimento econômico e funcionalidade do sistema financeiro: uma abordagem pós-keynesianafinancial systemeconomic growthPost-Keynesian theorysistema financeirocrescimento econômicoteoria pós-keynesianaThis paper analyzes the role of the financial system to economic growth, and the conceptof ‘functionality’ of the financial system under a Post Keynesian approach. It arguesthat in such theoretical approach a functional financial system is that supplies creditin order to meet the agents’ liquidity needs so that they can effectuate their expenditures,and at the same time is able to create suitable financial tools to fund the shortterm debts of the investors’ firms. Therefore, such financial system can allow a highercapital accumulation rate that would be able by the simple accumulation of previoussavings. The paper stresses that the concept of financial system functionality presumesthe existence of a diversified structure of financial institutions and financial assets thatare able to offer financing alternatives to the agents’ (mainly firms) expenditures.Este artigo analisa o papel do sistema financeiro para o crescimento econômico e oconceito de funcionalidade do sistema financeiro na visão pós-keynesiana. Argumenta-seque nessa perspectiva teórica um sistema financeiro funcional é aquele com poder decriação de crédito para atender a demanda de liquidez necessária para realização dosgastos pelos agentes, e com capacidade de criar mecanismos financeiros apropriadospara realização da consolidação de dívidas das firmas inversoras. Assim, ele pode permitirum ritmo de acumulação a um nível superior àquele que seria viável pela simplesacumulação de poupanças prévias. O artigo destaca ainda que o conceito de funcionalidadedo sistema financeiro supõe a existência de uma estrutura diversificada deinstituições e instrumentos financeiros que possa oferecer alternativas de financiamentopara os agentes (principalmente firmas) realizarem seus gastos.Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade2013-06-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ee/article/view/56410Estudos Econômicos (São Paulo); v. 43 n. 2 (2013); 363-3961980-53570101-4161reponame:Estudos Econômicos (São Paulo)instname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/ee/article/view/56410/59527Copyright (c) 2013 Luiz Fernando de Paulahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessPaula, Luiz Fernando de2020-12-09T13:11:49Zoai:revistas.usp.br:article/56410Revistahttps://www.revistas.usp.br/eePUBhttps://www.revistas.usp.br/ee/oaiestudoseconomicos@usp.br||aldrighi@usp.br1980-53570101-4161opendoar:2020-12-09T13:11:49Estudos Econômicos (São Paulo) - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Financing, economic growth and functionality of the financial system: a keynesian approach
Financiamento, crescimento econômico e funcionalidade do sistema financeiro: uma abordagem pós-keynesiana
title Financing, economic growth and functionality of the financial system: a keynesian approach
spellingShingle Financing, economic growth and functionality of the financial system: a keynesian approach
Paula, Luiz Fernando de
financial system
economic growth
Post-Keynesian theory
sistema financeiro
crescimento econômico
teoria pós-keynesiana
title_short Financing, economic growth and functionality of the financial system: a keynesian approach
title_full Financing, economic growth and functionality of the financial system: a keynesian approach
title_fullStr Financing, economic growth and functionality of the financial system: a keynesian approach
title_full_unstemmed Financing, economic growth and functionality of the financial system: a keynesian approach
title_sort Financing, economic growth and functionality of the financial system: a keynesian approach
author Paula, Luiz Fernando de
author_facet Paula, Luiz Fernando de
author_role author
dc.contributor.author.fl_str_mv Paula, Luiz Fernando de
dc.subject.por.fl_str_mv financial system
economic growth
Post-Keynesian theory
sistema financeiro
crescimento econômico
teoria pós-keynesiana
topic financial system
economic growth
Post-Keynesian theory
sistema financeiro
crescimento econômico
teoria pós-keynesiana
description This paper analyzes the role of the financial system to economic growth, and the conceptof ‘functionality’ of the financial system under a Post Keynesian approach. It arguesthat in such theoretical approach a functional financial system is that supplies creditin order to meet the agents’ liquidity needs so that they can effectuate their expenditures,and at the same time is able to create suitable financial tools to fund the shortterm debts of the investors’ firms. Therefore, such financial system can allow a highercapital accumulation rate that would be able by the simple accumulation of previoussavings. The paper stresses that the concept of financial system functionality presumesthe existence of a diversified structure of financial institutions and financial assets thatare able to offer financing alternatives to the agents’ (mainly firms) expenditures.
publishDate 2013
dc.date.none.fl_str_mv 2013-06-30
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.revistas.usp.br/ee/article/view/56410
url https://www.revistas.usp.br/ee/article/view/56410
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ee/article/view/56410/59527
dc.rights.driver.fl_str_mv Copyright (c) 2013 Luiz Fernando de Paula
http://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2013 Luiz Fernando de Paula
http://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
publisher.none.fl_str_mv Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
dc.source.none.fl_str_mv Estudos Econômicos (São Paulo); v. 43 n. 2 (2013); 363-396
1980-5357
0101-4161
reponame:Estudos Econômicos (São Paulo)
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Estudos Econômicos (São Paulo)
collection Estudos Econômicos (São Paulo)
repository.name.fl_str_mv Estudos Econômicos (São Paulo) - Universidade de São Paulo (USP)
repository.mail.fl_str_mv estudoseconomicos@usp.br||aldrighi@usp.br
_version_ 1787713829504811008

Registros relacionados