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Financial risks in the low-growth, low-interest rate environment

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Abstract

The current post-crisis economic and financial landscape has been characterised by rising asset prices – driven by record low interest rates and easy monetary policy – and low productive investment by firms in advanced countries. The OECD Business and Finance Outlook 2015 examines this situation and looks at the way in which companies, banks, institutional investors and shadow banking entities are operating in the low-growth and low-interest rate environment and explores the build-up of risks in the financial system. The “promises” of growth, employment, and adequate retirement income are seen to be at risk in the absence of policy actions. These issues were also discussed at a launch event of that publication, a summary of which is presented in this article. JEL classification: E2, E4, E5, F21, F23, G1, G2. Keywords: financial system, financial crisis, asset prices, financial institutions, institutional investors, shadow banking, pension systems, retirement income, financial education.

Suggested Citation

  • Oecd, 2016. "Financial risks in the low-growth, low-interest rate environment," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2015(2), pages 63-90.
    • Handle: RePEc:oec:dafkad:5jm0p43ndt45
    DOI: 10.1787/fmt-2015-5jm0p43ndt45
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    Cited by:

    1. Grace Taylor & Rod Tyers, 2017. "Secular Stagnation: Determinants and Consequences for Australia," The Economic Record, The Economic Society of Australia, vol. 93(303), pages 615-650, December.

    More about this item

    Keywords

    financial system; financial crisis; asset prices; financial institutions; institutional investors; shadow banking; pension systems; retirement income; financial education.;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

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