The paper is looking at the historical development of financial regulation in Germany. It is part of a series of papers that outline the development of financial regulation in other European countries such as France, Italy, Estonia, Slovenia, Hungary and Spain, and culminates in a synthesis...

The paper uses the systems of provision (sop) approach to analyse the transformed presence of finance in the UK housing sop since the 1980s. ‘Sop’ analyses look at the integrated chain of agents involved in providing a good and the structures and processes through which they relate to each...

This contribution attempts to explain the recent financial crisis and the subsequent Great Recession from the point of view of incentives that change as a consequence of securitization and contagion processes. It provides a critical analysis of the basic principles of the Asymmetric Information...

This paper analyses the regulatory framework of the financial system in Spain. Particular attention is paid to the adoption of the EU directives and the way they have been transposed to Spain from 1986 to present, including the regulatory developments in the last few years from the onset of the...

Commodity currencies have been stood against fiat money in the discourses on the history of money, implying a development from primitive forms of money – which needed anchor in a real commodity to gain acceptance, for instance gold, silver or copper – to a more sophisticated monetary regime...

The distribution of income between capital and labour has, until very recently, been ignored by the majority of the economics profession. At the same time, the rate of wage growth has systematically lagged the growth of productivity, leading to a fall in the share of wages in total income. This...

In this paper, we survey and analyse the economic literature on global and European imbalances and their connection with the global financial crisis. In the years preceding the crisis, there was increased attention to the existence of large current account imbalances among large economies...

Regulation of the banking industry in Estonia is theoretically significant in many respects. There is no clear straightforward model that would explain the evolution of the banking legislation, as all theoretical concepts are applicable for understanding the dynamics at certain periods in the...

We present an investigation into the long-run effects of financialisation on income distribution before the financial and economic crises for Germany, one of the major mercantilist export-led economies. The analysis builds on a Kaleckian approach towards the examination of the effects of...

The paper develops a macro-economic analysis along broadly defined Post Keynesian and Kaleckian lines, which incorporates ecological constraints on the pace of economic growth. Since growth is viewed as demand-driven, this involves bringing demand into line with the sustainable ‘ecological...