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Financialization, rentier interests and central bank policy

In: The Political Economy of Central Banking

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  • Gerald Epstein

Abstract

“Financialization†refers to the increasing importance of financial markets, financial motives, financial institutions, and financial elites in the operations of the economy and its governing institutions, both at the national and international levels. Many questions arise when considering the increased role of finance in the world economy. What are its dimensions? What is causing it? What impact is it having on income distribution within and between countries? What is its impact on economic growth? What impact is financialization having on the nature and distribution of political power within and between countries? What policies can be implemented to reduce the negative effects of financialization while preserving its positive effects, if there are any?

Suggested Citation

  • Gerald Epstein, 2019. "Financialization, rentier interests and central bank policy," Chapters, in: The Political Economy of Central Banking, chapter 14, pages 380-406, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18820_14
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    Keywords

    Economics and Finance;

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