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Macroeconomic Lessons from the Financialisation Process

  • Jesús Ferreiro
Chapter

Abstract

Jesús Ferreiro, in this chapter, titled “Macroeconomic Lessons from the Financialisation Process”, has the objective in contribution to outline the main macroeconomic lessons resulting from the financialisation process. This chapter is structured into four main sections. The first section will focus on the definition of the financialisation process. The second section will focus on the consequences of the financialisation process on economic activity in general and on the activity carried out by particular sectors and agents. The third section will deal with the Great Recession as far as there is an extended consensus on the key role played by the excessive growth of finances on the burst of the crisis. This study will pay attention to the different impacts of the economic and financial crises in European countries and on the consequences generated by the management of macroeconomic policies, mainly in developed and European countries. The final section will be devoted to the consequences of financialisation on the European integration process.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Jesús Ferreiro
    • 1
  1. 1.Department of Applied Economics VUniversity of the Basque Country UPV/EHUBilbaoSpain

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