Girón, Alicia y Chapoy, Alma (2014): Securitization and financialization. Journal of Post Keynesian Economics, 35 (2). pp. 171-183. ISSN 0160-3477
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Resumen
Securitization and financialization are the main causes of the financial crisis. These two concepts explain not only Minsky’s financial instability hypothesis but also the off-balance-sheet operations represented by erivative products, which are closely related to mortgage loans. Financial intermediaries in need of liquidity did everything in their power so that the securitization of assets could have a life of its own in financial operations. This is a process that is endogenous to the development of financialization. Because said process was a violation of the monetary economy, it was necessary for central banks to intervene as “lenders of last resort” as well as to nationalize and restructure all the financial intermediaries.
| Tipo de Documento: | Artículo |
|---|---|
| Volumen: | 35 |
| Número: | 2 |
| Fecha: | Diciembre 2014 |
| Palabras clave: | development, financial intermediairies, financialization, securitization. |
| Colecciones: | SIN ESPECIFICAR |
| Clasificación JEL: | G - Economía financiera > G1 - Mercados financieros en general G - Economía financiera > G1 - Mercados financieros en general > G15 - Mercados financieros internacionales G - Economía financiera > G2 - Instituciones y servicios financieros |
| Divisiones: | Unidades de Investigación > Economía Fiscal y Financiera |
| Depositado: | 13 Ago 2015 17:35 |
| URI: | http://ru.iiec.unam.mx/id/eprint/2701 |
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