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dc.contributor.authorAkan, Taner
dc.contributor.authorGündüz, Halil İbrahim
dc.date.accessioned2022-02-18T10:07:40Z
dc.date.available2022-02-18T10:07:40Z
dc.identifier.citationAkan T., Gündüz H. İ. , "Fundamental, Regressive, and Structural Financialization before and after the Great Recession", Diğer, ss.1-59, 2021
dc.identifier.othervv_1032021
dc.identifier.otherav_7c8273de-6efc-4e06-bfd7-34a4efbcf3bc
dc.identifier.urihttp://hdl.handle.net/20.500.12627/178600
dc.identifier.urihttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=3977107
dc.description.abstractThe paper investigates three major debates on contemporary economies: (i) if the major components of real economic activity (RECs) stimulate financial development (FND) but not vice versa, (ii) if RECs and FND jointly suppress labor, and (iii) if these two dynamics have incurred any substantial change after the Great Recession of 2008 and 2009. The paper, to this end, (i) introduces a clear-cut definition of financialization from a complementarity-theoretic approach, disaggregating it into three types: fundamental, regressive, and structural; (ii) disaggregates FND into three types: aggregate financial development (AFND), financial organizational development (FOD), and financial market development (FMD); (iii) investigates the causal relationships among RECs and AFND-FOD-FMD, and their separate and joint impact on the compensation of employees (COEs); and (iv) evaluates 12 high-income (HICs), eight upper-middle-income (UMICs), and seven lower-middle-income countries (LMICs) using the Panel Vector Autoregressive Model and Panel Granger Causality Test for the periods 1980-2007, 2008-2018 and 1980-2018. The paper concludes that there was fundamental, regressive, and structural financialization in the HICs in the period 1980-2007 but only regressive financialization in the period 2008-2018, and that there was no clear-cut financialization in the UMICs and LMICs.
dc.language.isoeng
dc.subjectFinans Ekonomisi
dc.subjectEconomics and Econometrics
dc.subjectEconomics, Econometrics and Finance (miscellaneous)
dc.subjectGeneral Economics, Econometrics and Finance
dc.subjectSocial Sciences & Humanities
dc.subjectİktisat
dc.subjectEkonometri
dc.subjectSosyal ve Beşeri Bilimler
dc.subjectEKONOMİ
dc.subjectEkonomi ve İş
dc.subjectSosyal Bilimler (SOC)
dc.titleFundamental, Regressive, and Structural Financialization before and after the Great Recession
dc.typeDiğer Yayınlar
dc.contributor.departmentİstanbul Üniversitesi , İktisat Fakültesi , İktisat Bölümü
dc.contributor.firstauthorID3051702


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