Finansallaşma Süreci ve Sonuçları: G8 Ülkeleri Örneği

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EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey.

[English Title] Financialization Process and the Outcomes: The Case of G8 Countries [English Abstract] After 1980s, the neo-liberal economic policies of the Washington Consensus paradigm revealed by the market mechanism has become the dominant system. The globalization process of the world economy and the policies, highlighted the concept of financialization. The balance shifted from production to finance in the financialization process and financial capital accumulation has become dominant and, local markets were opened to international capital flows. Thus the financial markets, the size of the institutions and processes have shown a significant increase in all of the world, particularly in the developed countries. In this study, the process of financialization in the G8 countries were examined for a period of 19 years (1990-2008). The effects of financialization on GDP and employment have been analyzed by using panel data models. Findings suggest that there are important impacts of financial sector on GDP and total employment. [English Keywords] Financialization, Financial sector, Employment, GDP. The text is part of a series EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey Number 207 11 pages long