Monetary adjustment and inflation of financial claims in the UK after 1980

Book chapter


Lepper, John, Shabani, M., Toporowski, Jan and Tyson, Judith 2016. Monetary adjustment and inflation of financial claims in the UK after 1980. in: Hein, Eckhard, Detzer, Daniel and Dodig, Nina (ed.) Financialisation and the Financial and Economic Crises Cheltenham Edward Elgar. pp. 68-88
AuthorsLepper, John, Shabani, M., Toporowski, Jan and Tyson, Judith
EditorsHein, Eckhard, Detzer, Daniel and Dodig, Nina
Abstract

This chapter explores two ways in which the UK financial system and the real economy developed out of step after 1980. It shows that companies and households took advantage of the easing of financial regulation by securing credit against assets with decreasing regard to the underlying real value of those assets. Hence, in the UK, financialisation largely took the form of inflation of financial claims.

Book titleFinancialisation and the Financial and Economic Crises
Page range68-88
Year2016
PublisherEdward Elgar
Publication dates
Print27 May 2016
Publication process dates
Deposited06 Dec 2017
Place of publicationCheltenham
Series New Directions in Modern Economics series
ISBN9781785362378
Digital Object Identifier (DOI)https://doi.org/10.4337/9781785362385
Permalink -

https://repository.uel.ac.uk/item/850w3

  • 94
    total views
  • 0
    total downloads
  • 3
    views this month
  • 0
    downloads this month

Export as

Related outputs

Banks During the Pandemic: A Japanese Perspective
Shabani, M. 2022. Banks During the Pandemic: A Japanese Perspective. Journal of Economic Issues. 56 (2), pp. 371-377. https://doi.org/10.1080/00213624.2022.2055942
Bank Liquidity Creation: A New Global Dataset for Developing and Emerging Countries
D’Avino, C., Girardin, E. and Shabani, M. 2022. Bank Liquidity Creation: A New Global Dataset for Developing and Emerging Countries. Review of World Economics. 158, pp. 529-570. https://doi.org/10.1007/s10290-021-00434-1
The Distribution of Dividends of Multinational Banks Operating in Latin America
Shabani, M. 2021. The Distribution of Dividends of Multinational Banks Operating in Latin America. in: Levy-Orlik, N., Bustamante-Torres, J. A. and Rochon, L-P. (ed.) Capital Movements and Corporate Dominance in Latin America: Reduced Growth and Increased Instability Edward Elgar Publishing Ltd.. pp. 72-88
The explosive growth of the US ABCP market between 2004 and 2007: an integrated empirical analysis
Lysandrou, P., Shabani, M. and D’Avino, C. 2020. The explosive growth of the US ABCP market between 2004 and 2007: an integrated empirical analysis. The Quarterly Review of Economics and Finance. 85, pp. 31-46. https://doi.org/10.1016/j.qref.2020.10.026
The Japanese balance sheet recession 20 years on: Abenomics – economic revival or corporate financialisation?
Bikas, K., Karwowski, Ewa and Shabani, M. 2020. The Japanese balance sheet recession 20 years on: Abenomics – economic revival or corporate financialisation? in: Stenfors, A. and Toporowski, J. (ed.) Unconventional Monetary Policy and Financial Stability: The Case of Japan Routledge. pp. 66-87
Japanese banks in the international money markets
Shabani, M., Stenfors, A. and Toporowski, J. 2020. Japanese banks in the international money markets. in: Stenfors, A. and Toporowski, J. (ed.) Unconventional Monetary Policy and Financial Stability : The Case of Japan Routledge. pp. 54-65
A new approach to measuring universal banking
Shabani, M. and D'Avino, C. 2020. A new approach to measuring universal banking. Bulletin of Economic Research. 72 (4), pp. 353-379. https://doi.org/10.1111/boer.12261
Dimensions and Determinants of Financialisation: Comparing OECD Countries since 1997
Karwowski, E., Shabani, M. and Stockhammer, E. 2019. Dimensions and Determinants of Financialisation: Comparing OECD Countries since 1997. New Political Economy. 25 (6), pp. 957-977. https://doi.org/10.1080/13563467.2019.1664446
Too Big to Manage: US Megabanks’ Competition by Innovation and the Microfoundations of Financialization
Cerpa Vielma, N., Cömert, H., D’Avino, C., Dymski, G., Kaltenbrunner, A., Petratou, E. and Shabani, M. 2019. Too Big to Manage: US Megabanks’ Competition by Innovation and the Microfoundations of Financialization. Cambridge Journal of Economics. 43 (4), p. 1103–1121. https://doi.org/10.1093/cje/bez027
The explosive growth of the ABCP market between 2004 and 2007: A “search for yield” story
Lysandrou, Photis and Shabani, M. 2018. The explosive growth of the ABCP market between 2004 and 2007: A “search for yield” story. Journal of Post Keynesian Economics. 41 (4), pp. 526-546. https://doi.org/10.1080/01603477.2018.1494504
Financial systems in financial crisis — An analysis of banking systems in the EU
Detzer, Daniel, Creel, Jerome, Labondance, Fabien, Levasseur, Sandrine, Shabani, M., Toporowski, Jan, Tyson, Judith, Consolandi, Costanza, Gabbi, Giampaolo, Matthias, Massimo, Vozzella, Pietro, Carrasco, Carlos A., Peinado, Patricia and Rodriguez Gonzalez, Carlos A. 2014. Financial systems in financial crisis — An analysis of banking systems in the EU. Intereconomics. 49 (2), pp. 56-87. https://doi.org/10.1007/s10272-014-0489-8
A Nobel Prize for the Empirical Analysis of Asset Prices
Shabani, M. and Toporowski, Jan 2014. A Nobel Prize for the Empirical Analysis of Asset Prices. Review of Political Economy. 27 (1), pp. 62-85. https://doi.org/10.1080/09538259.2014.961283
On the geography of bubbles and financial crises
Dymski, Gary A. and Shabani, M. 2017. On the geography of bubbles and financial crises. in: Martin, Ron and Pollard, Jane (ed.) Handbook on the Geographies of Money and Finance Cheltenham Edward Elgar. pp. 29-50