Abstract
This book makes four fundamental points. First, that there is a real transformation underway in terms of how advanced economies allocate capital, with households and financial sectors absorbing a growing share of advanced societies’ economic resources. Second, this transformation has consequences. More specifically, it alters the nature of the “finance-growth nexus”—the connection between financial develonnection between financial development and wider economic growth. Third, this new type of growth is unbalanced in terms of its macroeconomic and distributional effects. Fourth, that there are nevertheless variations from country to country in terms of how deep the transformation goes—variations rooted in divergent interests, institutions, ideas, and international contexts.
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© 2016 Gregory W. Fuller
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Fuller, G.W. (2016). Transformation and Policy Responses. In: The Great Debt Transformation. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137548733_6
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DOI: https://doi.org/10.1057/9781137548733_6
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