Financial development, instability and some confused equations

Faruk Ülgen (1)

1 CREG - Centre de recherche en économie de Grenoble

In face of the ambiguous results of four decades of liberalization, the purpose of this chapter is to call into question the relevance of liberal finance and the related regulatory institutional environment to ensure durable and consistent economic growth. With this aim, the chapter also examines the lessons that could be drawn from the 2007-2008 crisis in order to put into a broader perspective the concern about instability of market-based financialized capitalist economies, beyond the specific cases observed in the process of transition in EMEs.

Mots clés: financial development; economic crisis; emerging economies; emerging market

Domaines: Economies et finances

Faruk Ülgen. Financial development, instability and some confused equations. Ülgen, Faruk. Financial development, economic crises and emerging market economies, Routledge, pp. 51-76, 2017, Routledge critical studies in finance and stability, 978-1-138-12375-5. ⟨halshs-01448153⟩