Financial Market Drift

Decoupling of the Financial Sector from the Real Economy?

Häftad, Engelska, 2012

Av Lukas Menkhoff, Norbert Tolksdorf

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International financial markets play an increasing role in the mind of the general public, much more than they did a few decades ago. There can be no doubt that the size of financial markets has grown at a faster pace than the markets for goods and services in the past ten or twenty years.

Produktinformation

Utgivningsdatum2012-11-01
Mått155 x 235 x 14 mm
Vikt382 g
FormatHäftad
SpråkEngelska
Antal sidor234
FörlagSpringer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN9783642625077

Tillhör följande kategorier

1. Introduction.- 1.1 Defining the problem.- 1.2 Classification of the decoupling problem.- 1.3 Structure of the study.- 2. The relative sizes of the financial sector and the real economy.- 2.1 Definitional background to financial accounts.- 2.2 Empirical studies of financial sector growth in the development process.- 2.3 Studies of the decoupling hypothesis.- 3. Current empirical studies of decoupling characteristics.- 3.1 Analysis of financial asset ratios in Germany.- 3.2 Analysis of international foreign exchange trading turnover.- 3.3 Analysis of equity market volumes focusing on the USA.- 3.4 Excursus: Costly financial market turnover without a reasonable result?.- 4. Analysis of possible decoupling consequences for the financial sector.- 4.1 Decoupling as a reflection of CAPM mis-specifications.- 4.2 Price volatility.- 4.2.1 Introduction.- 4.3 Prices.- 4.4 Financial sector stability.- 5. Economic policy: Assessment and options.- 5.1 Evidence for the decoupling hypothesis.- 5.2 Three evaluation-driven response concepts.- 6. Concluding assessment of the decoupling hypothesis.- List of figures.- List of tables.