The Financialized Economy

Theoretical Views and Empirical Cases
1. Auflage 2023
ISBN: 978-0-367-75456-3
Verlag: Taylor & Francis

Buch, Englisch, 202 Seiten, Format (B × H): 156 mm x 234 mm, Gewicht: 290 g

Reihe: Routledge International Studies in Money and Banking

Social science theorists from various scholarly disciplines have contributed to a recent literature that examines how the finance industry has expanded and now wields increasing influence across a variety of economic fields and industries. In some cases, this tendency towards a more sizeable and influential finance industry has been referred to as "the financialization" of the economy. This book explains how what is referred to as the finance-led economy (arguably a more neutral and less emotionally charged term than financialization) is premised on a number of conditions, institutional relations, and theoretical propositions and assumptions, and indicates what the real economic consequences are for market actors and households.

The book provides a theoretically condensed but empirically grounded account of the contemporary finance-led economy, in many cases too complicated in its design and rich in detail to be understood equally by insiders—empirical research indicates—and lay audiences. It summarizes the relevant literature and points at two empirical cases, the construction industry and life science venturing, to better illustrate how the expansion of the finance industry has contributed to the capital formation process, and how the sovereign state has actively assisted this process. It offers a credible, yet accessible overview of the economic conditions that will arguably shape economic affairs for the foreseeable future.

The book will find an audience amongst a variety of readers, including graduate students, management scholars, policymakers, and management consultants.

Zielgruppe

Postgraduate and Undergraduate

Autoren/Hrsg.

Styhre, Alexander

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Makroökonomie
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie

Inhaltsverzeichnis

Introduction; 1 The financial economy: a review of the literature; 2 The institutional framework: the capital formation process in finance-led economies; 3 Thickly capitalized ventures: housing production, illiquid assets, and social welfare; 4 Thinly capitalized ventures: financing science-based innovation in entrepreneurial firms; 5 The institutional logic of the finance-led economy

Über Autor(innen)

Alexander Styhre is chair of Organizational Theory and Management, Department of Business Administration, School of Business, Economics and Law, University of Gothenburg, Sweden.