An Institutionalist Approach to Finance and an Illustrative Application to Investment Banking in the United States (1981-2008)

  1. Oana Cristian 2
  2. Clara García 1
  1. 1 Instituto Complutense de Estudios Internacionales (ICEI)
  2. 2 BBVA Corporate and Investment Banking
Revista:
Revista de economía mundial

ISSN: 1576-0162

Año de publicación: 2020

Número: 54

Páginas: 153-182

Tipo: Artículo

DOI: 10.33776/REM.V0I54.3829 DIALNET GOOGLE SCHOLAR lock_openArias Montano editor

Otras publicaciones en: Revista de economía mundial

Resumen

La crisis estadounidense de 2008 revivió las contribuciones del institucionalismo poskeynesiano (PKI) y particularmente de Hyman Minsky. Como se sabe, sus teorías conectaban las finanzas con dinámicas macroeconómicas desde una perspectiva institucional. Sin embargo, muchas de estas revisiones de Minsky se centraron en el sobreendeudamiento y la fragilidad de los balances presentes en la Hipótesis de Inestabilidad Financiera (HAP), sin tener en cuenta explícitamente la relación entre las finanzas, la dinámica macroeconómica y el entorno institucional. Este documento pretende profundizar en esta triple conexión desde una perspectiva teóricometodológica; así como ilustrar cómo se puede aplicar el marco propuesto (en este documento, al estudio de la banca de inversión en los Estados Unidos entre 1980 y 2008).

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