Financialization and the economy / edited by Agata Gemzik-Salwach and Krzysztof Opolski.

Includes index.

Includes bibliographical references and index.

There can be no doubt that the influence of the financial sphere has intensified rapidly in recent years, but there is much debate about the effect of that influence. The aftermath of the Financial Crisis has led to numerous discussions of the phenomenon of so-called financialization: the increasing impact of financial institutions on the activity of all business entities; emerging threats related with dynamically developing financial markets and the growing importance of financial themes. In light of these issues, which appear in all economies and touch all entities and every area of economic activity, there is a need for a summary and evaluation of the role of financialization in the world today. This monograph presents the role of financialization in the modern world. It shows positive as well as negative effects of financialization on the stability of the whole economy, the functioning of different types of markets, activity of enterprises, state institutions and behaviours of households. Written by expert contributors, this book plays an important role in the debate concerning future directions of development of the financial sector and financial markets. Financialization and the Economy is of great importance to those who study political economy, macroeconomics and banking.-- Provided by Publisher.

Part I. Financialization: impact on the structure of economy and economic mechanisms. Financialization and economic and social performance / Malcolm Sawyer ; Developing and emerging countries as finance providers: foreign exchange reserves and direct investment to the European Union / Jan Toporowski and Bruno Bonizzi ; Does sustainable global prosperity require global financial governance? / Gary A. Dymski ; The macroeconomic determinants of financial literacy in the European Union (on the example of numeracy skills) / Tomasz Potocki and Krzysztof Opolski -- Part II. Financialization: impact on financial institutions and financial markets. Bank failures and their implications for payment intermediation in conditions of financialization / Anna Iwańczuk-Kaliska ; The Franc Zone: Can the operations account mechanism survive the push for financial deepening? / Christina Laskaridis ; Alternative investment funds under new financial and legislative reality and Russian specific / Oksana Martanus and Elena Merekina ; Financial risk and financialisation / Andrzej Szopa -- Part III. Financialization: impact on society, households and companies. Inequality in the twenty-first century - in need of a new theory? / Hanna Szymborska ; Financialization and going into debt of households in Poland / Agata Gemzik-Salwach ; Financial exclusion and rationality of financial behaviour in view of financialisation / Marta Maciejasz-Świątkiewicz ; The sources of corporate savings in the era of financialization / Anna Białek-Jaworska.