9 documents found, page 1 of 1
Financialization in the European Periphery and the Sovereign Debt Crisis: The P...
Barradas, Ricardo; Lagoa, Sérgio; Leão, Emanuel; Mamede, RicardoThe financial sector has acquired great prominence in most developed economies. Some authors argue that the growth of finance is at the root of the financial and economic difficulties of the past decade. This article aims to analyze this claim by looking at financialization in the European periphery, focusing on the Portuguese case. The emergence of this phenomenon is contextualized from a historical, economic ...
The Long Boom and the Early Bust: The Portuguese Economy in the Era of Financia...
Barradas, Ricardo; Mamede, Ricardo; Lagoa, Sérgio; Leão, EmanuelThis chapter expands the authors’ previous work on the Portuguese financial system’s evolutions in the past three decades. In that work they extensively documented the various signs of financialisation in the Portuguese economy. Now the authors focus on the effects of financialisation in Portugal on the long-run macroeconomic development and on the financial and economic crises that hit the country in recent ye...
Financialisation in the european periphery and the sovereign debt crisis: the p...
Barradas, Ricardo; Lagoa, Sérgio; Leão, Emanuel; Mamede, RicardoThe financial sector has acquired great prominence in most developed economies. However, some authors argue that the growth of finance is at the root of the current financial and economic difficulties. This paper aims to analyse this claim by looking at financialisation in the European periphery, focusing on the Portuguese case. The emergence of this phenomenon is contextualised from a historical, economic and ...
Risk Management, The Subprime Crisis and Finance-Dominated Capitalism: What Wen...
Barradas, Ricardo; Lagoa, Sérgio; Leão, EmanuelThis chapter is concerned with the implications of both visions of finance for risk management. The mainstream view argues that, as finance grows, risk management becomes more efficient and therefore ensures the diversification and control of risk. In contrast, the financialization approach is sceptical about the finance sector’s capacity to manage risk effectively. We review the literature to assess the role o...
Risk management, the subprime crisis and financialisation: the role of risk man...
Barradas, Ricardo; Lagoa, Sérgio; Leão, EmanuelOver time the financial sector has gained greater relevance in the economy, a phenomenon that some call financialisation. Contrary to the mainstream view, financialisation literature emphasises that risk management by financial corporations will not be socially efficient in a context of deregulated markets and will ultimately lead to an increase of aggregate risk and crises. To assess the validity of such claim...
Financialisation and the financial and economic crises: the case of Portugal
Barradas, Ricardo; Lagoa, Sérgio; Leão, Emanuel; Mamede, RicardoThe notion of 'financialisation' broadly refers to the growing weight of finance in contemporary economies. Taking this into account, the present study focus on the long-run macroeconomic development and recent financial and economic crisis of the Portuguese economy. Contrary to Greece, Ireland, and Spain, the dismal performance of the Portuguese economy is not solely a post-subprime crisis phenomenon. The shar...
Report on the financial system in Portugal
Barradas, Ricardo; Lagoa, Sérgio; Leão, Emanuel; Mamede, RicardoThis Report assesses the extent, nature, and effects of financialisation in Portugal. It also discusses the contribution of financialisation for the crisis that presently affects the Portuguese economy. The liberalization of the banking sector, the easier access to international financial markets, and the growth of credit fostered the development of the Portuguese financial sector.
The Non-For-Profit Banks in Portugal: Specificities, Social Role and Evolution
Barradas, Ricardo; Lagoa, Sérgio; Leão, EmanuelThis paper establishes the main differences between standard commercial banks and the two non-for-profit banks operating in Portugal (Caixa Agrícola – CA - and Caixa Económica Montepio Geral – CE-MG). In particular, we find differences in the way funds are raised, governance criteria, tax regime, application of profits and attitude towards profit. However, CA is more similar to a typical co-operative/mutual ban...
The non-for-profit banks in Portugal: specificities, social role and evolution
Barradas, Ricardo; Lagoa, Sérgio; Leão, EmanuelEste artigo procura definir as principais diferenças entre a generalidade dos bancos e os dois bancos com atitude não lucrativa que operam no mercado bancário português (Caixa Agrícola e Caixa Económica-Montepio Geral). Encontramos diferenças em termos da forma de captar fundos; em termos dos critérios de governação; do regime fiscal; da aplicação dos lucros; e da atitude em relação ao lucro. A Caixa Agrícola o...