Asked by Molly Parker on Apr 28, 2024
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Public sector budget austerity is considered another aspect of financialization of markets due to the increased influence of financial institutions on public sector financial and nonfinancial decisions.
Public Sector Budget Austerity
Economic policy measures that involve significant reductions in government spending and benefits, often used to reduce public sector debt.
Financialization
Financialization denotes the increasing dominance of financial markets, financial motives, financial institutions, and financial elites in the economy, shaping corporate and economic policies.
Financial Institutions
Organizations that provide financial services, such as banks, insurance companies, pension funds, and investment firms.
- Identify the patterns and impacts of financialization on worldwide markets.
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Learning Objectives
- Identify the patterns and impacts of financialization on worldwide markets.
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