Institutional Change in Financial Systems

OXFORD HANDBOOK OF COMPARATIVE INSTITUTIONAL ANALYSIS, Glenn Morgan, John Campbell, Colin Crouch, Peer Hull Kristensen, Ove Kai Pedersen, and Richard Whitley, eds., Oxford University Press, 2010

27 Pages Posted: 7 Jan 2010

Date Written: January 6, 2010

Abstract

This paper summarizes and evaluates changes in the financial systems of the advanced capitalist economies since the early 1980s. It does not focus directly on the development of international financial markets per se, though developments in this area are intricately linked with institutional change in domestic financial systems. The first section reviews alternative approaches to comparing financial systems and conceptualising their broader political-economic functions. The second section provides a brief empirical summary of key changes in financial systems, broadly captured by the concept of financialisation. The third section addresses debates on how to explain change in financial systems. The final section revisits the issue of financial system typologies, looks more closely at the changing function of financial systems vis-à-vis the real economy and the financial crisis of the late 2000s, and concludes with an agenda for future research in the field.

Keywords: financial markets, financial regulation, financialization, securitization

JEL Classification: G28, N2, P16

Suggested Citation

Deeg, Richard, Institutional Change in Financial Systems (January 6, 2010). OXFORD HANDBOOK OF COMPARATIVE INSTITUTIONAL ANALYSIS, Glenn Morgan, John Campbell, Colin Crouch, Peer Hull Kristensen, Ove Kai Pedersen, and Richard Whitley, eds., Oxford University Press, 2010. Available at SSRN: https://ssrn.com/abstract=1532231

Richard Deeg (Contact Author)

Temple University ( email )

Philadelphia, PA 19122
United States

HOME PAGE: http://https://liberalarts.temple.edu/academics/faculty/deeg-richard

Register to save articles to
your library

Register

Paper statistics

Downloads
620
Abstract Views
2,034
rank
42,421
PlumX Metrics