The Rise of Finance

Causes, Consequences and Cures

AvV. Anantha Nageswaran,Gulzar Natarajan

Inbunden, Engelska, 2019

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Beskrivning

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.

Produktinformation

Utgivningsdatum:2019-05-23
Mått:160 x 235 x 22 mm
Vikt:500 g
Format:Inbunden
Språk:Engelska
Antal sidor:306
Förlag:Cambridge University Press
ISBN:9781108482349

Utforska kategorier

Nationalekonomi inom Ekonomi och Ledarskap

Mer om författaren

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.

Recensioner i media

'This is a fascinating and well-written book on global finance and the rise in its importance. But it goes beyond the descriptive and also deals with the prescriptive. What can regulatory systems and policy do to deal with private capital flows, often cross-border in nature? Especially interesting are the chapters on inequality and a chapter that links it with the Indian experience.' Bibek Debroy, Government of India

Innehållsförteckning

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.