Coordinators: Olga Mikheeva
University College London, UK
o.mikheeva@ucl.ac.uk
Steffen Murau
Boston University, USA
smurau@bu.edu

This research area provides a pluralistic forum for the analysis of financial markets, financial institutions and policies, as well as the monetary system at large. The Global Financial Crisis (GFC) 2007-9 has demonstrated the extent to which financial markets and institutions have undergone substantial transformations during past decades, following policies of financial liberalization and deregulation since the 1970s. The post-GFC world comes along with a multitude of conceptual and empirical questions on the role of finance in the modern capitalist system: How do financial markets and actors work and interact? What national and international financial governance mechanisms are required? How should we understand and study money creation? How do novel forms of finance contribute to the fragility and systemic risks in financial systems? This also gives rise to normative questions related to financing and economic development: Which financial policies are needed for finance to better serve socio-economic goals? How can the financial sector more actively contribute to socio-economic progress?

For the next years, the research area will place an emphasis on the following topics:

  • Monetary system(s) and monetary institutions on a national, regional, supranational, international, and global level
  • The change of national, transnational, regional, and global institutional framework(s)
  • Financial capitalism and the political economy of finance (such as financial markets, institutions, and financial policies)
  • Financial regulation and supervision (such as policies, institutions, capacities, and systemic risks)
  • Questions of financialisation and financial globalization
  • Finance and socio-economic development (such as financial policies and institutions)
  • Questions of monetary theory (such as the antagonism of monetary theories of credit and credit theories of money)
  • Changing ways of money creation (such as new central banking practices, shadow money, and offshore money creation)
  • Historical analyses of financial crises, markets, and institutions
  • Financial innovation and novel forms of finance (such as alternative currencies, crowd funding platforms, crypto currencies, and microfinance)

Anyone who wishes to be associated with this research area or may wish to participate in collaborative research in this rapidly changing field, or who may wish to offer a paper in a special session at a future EAEPE conference, is warmly invited to get in touch with the coordinators by email.