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A Stabilized and Regulated Financial Market

In: Rethinking the Market Economy

Author

Listed:
  • Jean-Jacques Lambin

    (Università degli studi di Milano-Bicocca
    Université catholique de Louvain)

Abstract

A stabilized and regulated financial market is obviously the major reform to be achieved by priority. Financial markets play the crucial role in a market economy of providing the financial resources needed by entrepreneurs and innovators active in the real economy. Since the 1980s, deregulation and the elimination of borders between financial, monetary and national markets have led to a globalization of the financial markets. This deregulation has been achieved following an ultraliberal model, within a free and unregulated international market without any fiscal control and dominated by powerful transnational enterprises and financial intermediaries. What the financial crisis has revealed is the decoupling between the international financial world and the real economy. Does the financial system create value for those working in the real economy or does it function in a closed world solely benefiting speculators, traders or shareholders? This chapter will review initiatives taken, within the EU28 and the world, to improve the regulation of the financial system and benefit the real economy.

Suggested Citation

  • Jean-Jacques Lambin, 2014. "A Stabilized and Regulated Financial Market," Palgrave Macmillan Books, in: Rethinking the Market Economy, chapter 2, pages 13-28, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-39291-6_2
    DOI: 10.1057/9781137392916_2
    as

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