Did financialization reduce economic growth?
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The shift of many non-financial firms' portfolios towards large investments in financial assets has 'disconnected' their profitability from value creation further contributing to the decline of real investment and growth.
“Second, the shift of many non-financial firms' portfolios towards large investments in financial assets has 'disconnected' their profitability from value creation further contributing to the decline of real investment and growth”
From Mapping modern economic rents: the good, the bad, and the grey areas (2023) · cites this paper as Tomaskovic-Devey et al., 2015
Cites
Chapter 12 Finance and Growth: Theory and Evidence
Levine, R. (2005) · Handbook of Economic Growth · doi:10.1016/s1574-0684(05)01012-9 · Cited by 2,889 · see citing works
Maximizing shareholder value: a new ideology for corporate governance
Lazonick, W., & O'Sullivan, M. (2000) · Economy and Society · doi:10.1080/030851400360541 · Cited by 1,970 · see citing works
The Financialization of the Firm: Managerial and Social Implications
Styhre, A. (2015) · doi:10.4337/9781783478231 · Cited by 70 · see citing works
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Mapping modern economic rents: the good, the bad, and the grey areas
Mazzucato, M., Ryan-Collins, J., & Gouzoulis, G. (2023) · Cambridge Journal of Economics · doi:10.1093/cje/bead013 · Cited by 54 · see citing works
- Authors
- Tomaskovic-Devey, D., Lin, K.-H., & Meyers, N.
- Affiliations
- The University of Texas at Austin (US)
- University of Massachusetts Amherst (US)
- ORCID
- Lin, Ken-Hou
- Venue
- Socio-Economic Review
- Publisher
- Oxford University Press (OUP)
- Published
- 2015-05-13
- Volume
- 13
- Issue
- 3
- Pages
- 525-548
- ISSN
- 1475-1461 (ISSN-L)
- 1475-147X
- OpenAlex
- W3125665238
- Cited by
- 180
- References
- 3
- Citations by year
- 2026: 24 · 2025: 22 · 2024: 11 · 2023: 27 · 2022: 13 · 2021: 12 · 2020: 14 · 2019: 10 · 2018: 18 · 2017: 16 · 2016: 7 · 2015: 6
- FWCI
- 29.99
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Socio-Economic Review (publishedVersion)
- SSRN Electronic Journal (publishedVersion)
- Funders
- Australian Government
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Housing, Finance, and Neoliberalism
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
- Social Sciences › Sociology and Political Science › Political Economy and Marxism
- Keywords
- financialization, economic growth, non-financial firms, value added, stakeholder claims, labor share, corporate debt, corporate equity, corporate philanthropy
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
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