Keywords
financialization of the economy
commodity market financialization
JEL codes: G00
E00
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Abstract
This article attempts a holistic analysis of the phenomenon of the financialization of the economy using a macroeconomic approach. The first part of the article deals with terminological issues. In the second part the author presents the determinants of financialization and the stages of the process from a historical perspective. The third part of this article analyses economic phenomena and business processes linked to financialization: transformation on commodity markets, inflation targeting as a goal of monetary policy, the impact of the financial sector on economic growth and asset inflation on capital markets.
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