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Financialisation and the Financial and Economic Crises: The Case of Spain

Author

Listed:
  • Jesus Ferreiro

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Catalina Galvez

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Ana Gonzalez

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

Abstract

The aim of this paper is to analyse the relationship between the financial crisis and the real economic crisis in Spain. The main central hypothesis put forward by this study is that financialisation, which lies at the root of the financial crisis both in Spain and in other European and advanced economies, has also implied changes in the real and financial behaviour of private (i.e., households, non-financial corporations and financial corporations) and public agents that explain the extent and prolonged duration of the crisis in Spain.

Suggested Citation

  • Jesus Ferreiro & Catalina Galvez & Ana Gonzalez, 2014. "Financialisation and the Financial and Economic Crises: The Case of Spain," FESSUD studies fstudy19, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    • Handle: RePEc:fes:fstudy:fstudy19
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    Citations

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    Cited by:

    1. Detzer, Daniel, 2016. "Financialisation, debt and inequality: Scenarios based on a stock flow consistent model," IPE Working Papers 64/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Daniel Detzer, 2017. "Financialisation, Debt and Inequality: Export-led Mercantilist and Debt-led Private Demand Boom Economies in a Stock-flow consistent Model," Working Papers 2016-03, Universita' di Cassino, Dipartimento di Economia e Giurisprudenza.
    3. Nina Dodig & Eckhard Hein & Daniel Detzer, 2016. "Financialisation and the financial and economic crises: theoretical framework and empirical analysis for 15 countries," Chapters, in: Eckhard Hein & Daniel Detzer & Nina Dodig (ed.), Financialisation and the Financial and Economic Crises, chapter 1, pages 1-41, Edward Elgar Publishing.

    More about this item

    Keywords

    Financialisation; models of growth; consumption; investment; financial balance sheets; income distribution;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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