Financialisation phenomenon from the perspective of the regulation school
Journal Title: Central European Review of Economics and Finance - Year 2016, Vol 13, Issue 3
Abstract
Within heterodox trend, since 1970s the French Regulation School has been conducting a research program that emphasises the importance of emergence and adjustment of institutions in the process of regulation of capitalism. The goal of the paper is to present changes in institutional structure from Fordism to contemporary system determined by the process of financialisation of economies from the perspective of the Regulation School. The structure of the paper is subordinated to the thesis that in regulationists' interpretation, determinants of Ford's regime generated dynamic economic growth, whereas contemporary structure of institutional forms, based on financialisation is not conducive to long-term and stable economic growth. In the first part of the paper the research program of the Regulation School is comprehensively discussed. Then institutional forms and their specific structure in Fordism are described. The last part is focussed on the most important changes in contemporary institutional structure that result from the process of financialisation of economies.(original abstract)
Authors and Affiliations
Renata Pęciak
Keywords
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