Innovation, competition and financial vulnerability in economic development

Bibliographic Data

ID4369204
AuthorsLeonardo Burlamaqui (Candido Mendes University; State University of Rio de Janeiro), Jan Kregel (United Nations Conference on Trade and Development)
Year2005
Volume25
Issue2
Pages5-22
Publication date2005-04-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueBrazilian Journal of Political Economy (JOURNAL)
Journal identifiersISSN: 0101-3157 • E-ISSN: 1809-4538
PublisherFapUNIFESP (SciELO) (PUBLISHER)
DOI10.1590/s0101-31572005000200002
OpenAlexW2151733306
SCIELO_PIDS0101-31572005000200002
LanguageEN
Citations received3
References cited9

The financial sector has been viewed traditionally as either providing the "oil" for the "wheels of commerce" or as a parasite on the real sector of the economy where real productivity gains provide for increasing real wages and per capita incomes. The present paper takes a different route and attempts to an analysis of financial institutions on a par with the production sector of the economy. It also develops a link which amalgamates "the knowledge-based" perspective on firms' operations with Schumpeterian financial leverage to exploit productivity enhancing innovations, and Minsky's tendency towards financial fragility. The analysis also leads to some policy recommendations concerning financial regulation, risk management and financial institution's building

Business · Competition (biology · Economics · Exploit · Financial crisis · Financial fragility · Financial innovation · Financial institution · Financial market · Financial sector · Financial services · Indirect finance · Leverage (statistics · Macroeconomics · Productivity · Vulnerability (computing · Economic theories and models · Economic Theory and Policy · Finance · Italy: Economic History and Contemporary Issues

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