The Progress of Financialization after the Global Financial Crisis Focusing on the Equity Market in the United States of America

DOI HANDLE Web Site

Bibliographic Information

Other Title
  • グローバル金融危機後の金融化の進展 : 米国株式市場の検討を中心に
  • グローバル キンユウ キキ ゴ ノ キンユウカ ノ シンテン : ベイコク カブシキ シジョウ ノ ケントウ オ チュウシン ニ

Search this article

Abstract

The purpose of this paper is to trace the progress of financialization after the global financial crisis, focusing on the equity market in the United States of America. Following the global financial crisis, the number of shares issued has increased, stock prices continued to go up and market capitalization has increased. In short, the balance of financial assets has increased. In the primary market, the number of direct listings has increased while SPAC deals have surged. These phenomena suggest that the economy has excess funds to be invested. In the secondary market, the use of dark pools and equity investment by individual investors have both increased. Individual investors’ involvement in financial markets is deepening. The financialization of the US Economy has gradually progressed since the global financial crisis in that the balance of financial assets has increased. In addition, it should be noted that equity investment by individual investors has been increasing since before the financial crisis. The following points are important when considering financialization after the financial crisis; long-term stock price rise, increased unique IPOs, the increasing role of central banks and financial speculation of individual investors.

Journal

  • 経済志林

    経済志林 89 (2), 555-581, 2022-03-20

    法政大学経済学部学会

Details 詳細情報について

Report a problem

Back to top