Hero or villain? The financial system in the 21st century

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F22%3A10248933" target="_blank" >RIV/61989100:27510/22:10248933 - isvavai.cz</a>
Result on the web
<a href="https://onlinelibrary.wiley.com/doi/full/10.1111/joes.12437" target="_blank" >https://onlinelibrary.wiley.com/doi/full/10.1111/joes.12437</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1111/joes.12437" target="_blank" >10.1111/joes.12437</a>

Result language
angličtina
Original language name
Hero or villain? The financial system in the 21st century
Original language description
The paper reviews the literature and data on the role of finance in socioeconomic development. The evidence suggests that a well-developed financial system can certainly enhance people's prosperity, but an excessively large and poorly regulated financial system can do more harm than good. We start by making the important distinction between traditional finance (retail banking, insurance, etc.) and modern finance (financial "innovation" and asset trading). We then document that the financialization trend of the past four decades has largely transformed modern finance from "hero" into "villain." We discuss the driving forces behind this, as well as some policy reform proposals that could in principle make modern finance a hero once again.
Czech name
—
Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50206 - Finance

Project
<a href="/en/project/GA19-19485S" target="_blank" >GA19-19485S: Spatial Dynamics and Inequality: The Role of Connectivity and Access to Finance</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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