Daniela Gabor: The Romanian Financial System: From Central Bank-Led to Dependent Financialisation

This study argues that financialisation is not a phenomenon exclusively associated with complex innovation in highly developed financial markets. Financialisation also affects countries with “shallow” financial markets but with a significant presence of transnational financial actors that become a powerpul economic and political force able to navigate and shape uneven regulatory and institutional terrains in order to sustain new modes of profit generation. The study distinguishes two stages in the financialisation of the Romanian economy. The first, central bank dominated. Weiterlesen