Sawyer, M orcid.org/0000-0002-4565-5276 (2021) Financialisation, industrial strategy and the challenges of climate change and environmental degradation. International Review of Applied Economics, 35 (3-4). pp. 338-354. ISSN 0269-2171
Abstract
The paper discusses the nature of the present era of financialisation, outlining the changes in the financial sector and its relations with the real sector which are particularly relevant for the climate emergency. The relationship between growth of the financial sector (‘financial development’) and economic growth is reviewed, and the relevant of recent empirical findings for the role of the financial sector in addressing the climate emergency drawn out. It is argued that the policy approach to the climate emergency and environmental degradation should be embedded within an industrial strategy. Further, it is argued that the structures of the financial sector need to be changed to encourage financial institutions which are more favourably disposed towards to the allocation of funds to ‘green investment’. It is also argued that the central bank should act in ways that are supportive of environmental policies but that their role is a rather limited one.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2020 Informa UK Limited, trading as Taylor & Francis Group. This is an author produced version of an article, published in International Review of Applied Economics. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Financialisation, climate emergency, banks, industrial strategy, monetary policy |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 24 Nov 2021 16:44 |
Last Modified: | 15 Apr 2022 00:38 |
Status: | Published |
Publisher: | Routledge |
Identification Number: | 10.1080/02692171.2020.1836137 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:180729 |