Munich Personal RePEc Archive

Financial Capital Overaccumulation

Hsu, Sara (2012): Financial Capital Overaccumulation.

[img]
Preview
PDF
MPRA_paper_41698.pdf

Download (401Kb) | Preview

Abstract

Overaccumulation of financial capital at the expense of the real sector resulted in falling wages as well as in the most recent global financial crisis. This is a topic of increasing interest, as the idea that some developed economies have reached a stage of overfinancialization has gained some following. In this paper, we lay out a model of overaccumulation, which can be used as a constraint on any growth model.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.