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Evolution of the financial sector - Three different stages: repression, development and financialisation

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dc.contributor.authorBarradas, Ricardo
dc.date.accessioned2018-02-23T14:05:56Z
dc.date.available2018-02-23T14:05:56Z
dc.date.issued2016
dc.descriptionCapítulo do livro Advances in Applied Business Research: the L.A.B.S. Initiative inserido na série Business Economics in a Rapidly-Changing Worldpt_PT
dc.description.abstractThis chapter makes a systematic literature review on the evolution of the financial sector in the last decades all over the world, but especially in the more developed countries. This evolution was marked by three different stages, reflecting different impacts of the financial sector on the real economy and on society. The first stage financial repression is characterised by the existence of several regulations and restrictions on the financial sector, which proved to be detrimental to support economic growth. This legitimised the financial liberalisation and deregulation of the financial sector in the recent years, representing the second stage financial development. Consequently, there was a strong growth of the financial sector in subsequent years, originating an excessive financial deepening and casting doubts around the advantages provided by the financial sector. In fact, excessive financial deepening weakened or reversed the relationship between savings and investments. The large growth of the financial sector and its deleterious effects are commonly referred as financialisation, constituting the third stage. The chapter concludes that it is necessary to engage in a fourth stage in the coming years de-financialisation in order to re-establish a more supportive relationship between the financial sector and economic growth and presents several policy recommendations about this matter.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.isbn978-1-63484-957-9
dc.identifier.urihttp://hdl.handle.net/10400.21/8114
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherNova Science Publisherspt_PT
dc.relation.publisherversionhttps://www.novapublishers.com/catalog/product_info.php?products_id=58035&osCsid=6d36f68b08af9e930fee6506c3438896pt_PT
dc.subjectFinancial repressionpt_PT
dc.subjectFinancial liberalisation and deregulationpt_PT
dc.subjectFinancial developmentpt_PT
dc.subjectExcessive financial deepeningpt_PT
dc.subjectFinancialisationpt_PT
dc.subjectDe-financialisationpt_PT
dc.titleEvolution of the financial sector - Three different stages: repression, development and financialisationpt_PT
dc.typebook part
dspace.entity.typePublication
oaire.citation.conferencePlaceNova Iorquept_PT
oaire.citation.endPage156pt_PT
oaire.citation.startPage127pt_PT
oaire.citation.titleAdvances in Applied Business Research: the L.A.B.S. Initiativept_PT
person.familyNameBarradas
person.givenNameRicardo
person.identifier.ciencia-id061D-E6BF-503D
person.identifier.orcid0000-0003-0212-3568
person.identifier.scopus-author-id57131382000
rcaap.rightsclosedAccesspt_PT
rcaap.typebookPartpt_PT
relation.isAuthorOfPublicationc0fa42ef-438a-4757-b835-19de30af5ed6
relation.isAuthorOfPublication.latestForDiscoveryc0fa42ef-438a-4757-b835-19de30af5ed6

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