Hardback
Financialisation
Measurement, Driving Forces and Consequences
9781803926575 Edward Elgar Publishing
This timely book explores the measurement and consequences of financialisation, as well as its driving forces, to take a fresh look at reconciling the twin concepts of financialisation and financial development. Imad Moosa provides a critical review of these two separate strands – the individual measures of economic development and financialisation – on the grounds that they are inadequate to represent a multi-dimensional process.
More Information
Critical Acclaim
Contents
More Information
This timely book explores the measurement and consequences of financialisation, as well as its driving forces, to take a fresh look at reconciling the twin concepts of financialisation and financial development. Imad Moosa provides a critical review of these two separate strands – the individual measures of economic development and financialisation – on the grounds that they are inadequate to represent a multi-dimensional process.
Introducing a new composite measure encompassing the means of payment and asset ownership as well as conventional indicators, Moosa expertly investigates the economic, political and social consequences of financialisation. Identifying the driving forces of financialisation, he concludes that there is a requirement to reverse the current trend using more than just legislation and regulation to secure a sound and stable economy.
This innovative book will be a fascinating and informative read for academics and research students of financial economics, regulation and economic sociology. Policy makers and politicians engaged in financial regulation will find the suggested insights into achieving future financial stability thought-provoking.
Introducing a new composite measure encompassing the means of payment and asset ownership as well as conventional indicators, Moosa expertly investigates the economic, political and social consequences of financialisation. Identifying the driving forces of financialisation, he concludes that there is a requirement to reverse the current trend using more than just legislation and regulation to secure a sound and stable economy.
This innovative book will be a fascinating and informative read for academics and research students of financial economics, regulation and economic sociology. Policy makers and politicians engaged in financial regulation will find the suggested insights into achieving future financial stability thought-provoking.
Critical Acclaim
‘People in the finance industry have long advocated the benefits of financialisation. However, the detrimental effects that the other productive sectors in an economy wither away are often overlooked. This book presents the ugly and detrimental consequences of financialisation – something that is rarely discussed in the financial world. For any person interested in finance, this book is essential reading.’
– George Tawadros, Winona State University, US
‘With the ongoing decline of neoliberalism and the massive economic inequality it has produced, this highly accessible book is absolutely timely. It is compulsory reading for policy makers and all those demanding more government control over the running of economies and a reduction in the burgeoning artificial practice of making money out of money.’
– Greg Bailey, La Trobe University, Australia
‘Imad A. Moosa comprehensively addresses the “financialisation” literature and financialisation in practice – its history, incidence, causes and effects, ranging over grand narrative to fine detail, commanding technical and discursive contributions, and the economic and the social. It is a compelling starting point for anyone concerned with the defining characteristic of our age.’
– Ben Fine, SOAS, University of London, UK
– George Tawadros, Winona State University, US
‘With the ongoing decline of neoliberalism and the massive economic inequality it has produced, this highly accessible book is absolutely timely. It is compulsory reading for policy makers and all those demanding more government control over the running of economies and a reduction in the burgeoning artificial practice of making money out of money.’
– Greg Bailey, La Trobe University, Australia
‘Imad A. Moosa comprehensively addresses the “financialisation” literature and financialisation in practice – its history, incidence, causes and effects, ranging over grand narrative to fine detail, commanding technical and discursive contributions, and the economic and the social. It is a compelling starting point for anyone concerned with the defining characteristic of our age.’
– Ben Fine, SOAS, University of London, UK
Contents
Contents: Preface 1. Conceptual issues and preliminary observations 2. Financial development: concept and measurement 3. The economic effects of financial development 4. From financial development to financialisation 5. The driving forces of financialisation 6. Financialisation, neoliberalism and globalisation 7. Financialisation, financial instability and financial crises 8. The economic effects of financialisation 9. The political and social effects of financialisation 10. Epilogue References Index
