Global Financialisation Crisis and the New Financial Architecture Cover Image

Kríza globálnej financializácie a nová finančná architektúra
Global Financialisation Crisis and the New Financial Architecture

Author(s): Luboš Pavelka
Subject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: financialisation; global crises; ethics; profits; inflation

Summary/Abstract: Financialisation may be defined as: the increasing dominance of the finance industry in the sum total of economic activity. Financialisation is the employment of money capital in the financial markets and in speculation Financial crises 2009 is crises of neoliberalismus, crises of ethics and crises of global economic. An American mortgage is manifested in expansion of classified debts, which arose to financial institutions in USA as a result of underestimating of risks in the area of from of retails’ clients financing. Mortgages provided to American households with low financial standing served as ground assets of security obligations of which investors are investment and insurance companies all over the world. The main reason of crisis was improvident business activities of banks and special purpose company as well as bank ethics breaking and unfair practices of domestic funds institutions.

  • Issue Year: 57/2009
  • Issue No: 08
  • Page Range: 804-820
  • Page Count: 17
  • Language: Slovak