Banca de DEFESA: JEFFERSON DE SOUZA COSTA

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : JEFFERSON DE SOUZA COSTA
DATE: 29/02/2024
TIME: 10:00
LOCAL: REMOTO
TITLE:

FINANCIAL INNOVATIONS IN THE DIGITAL ERA AND THEIR IMPLICATIONS FOR FINANCIAL STABILITY IN THE LIGHT OF MINSKYAN THEORY

KEY WORDS:

Financial Innovations; Systemic Instability; Hyman Minsky; digitalization

PAGES: 65
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUBÁREA: Economia Monetária e Fiscal
SPECIALTY: Teoria Monetária e Financeira
SUMMARY:

Capitalist economies go through economic cycles, alternating periods of prosperity, recessions, and depressions. However, these processes intensified as financial systems became more deregulated, which contributed to the expansion of debts, especially within the banking system. In parallel to these waves of deregulation, especially after 1960, Information and Communication Technologies (ICT) developed a central element in the process of digitalization of the economy. In this context, financial technologies emerge, structured in decentralized financial systems, in addition to the so-called digital currencies, which materialize the expansion of financial asset and credit markets in the digital sphere, crypto actives, and the alternative credit ecosystem (Fintechs and Techfins), respectively. In this sense, it is argued that 1) it is essential to investigate the role of financial technologies concerning the financial (in)stability of modern capitalist economies and 2) that the Minskyan post-Keynesian theoretical framework can be used as an analysis and proposition tool of economic policy to mitigate the effects of instability in these markets and their impact on the real economy. The hypothesis presented here is that the characteristics of decentralization, high volatility, and low liquidity of financial markets in the digital era lead to an intensification of moments of crisis, by leading economic agents to even more risky positions, generating a tendency to expansion in the amount of debts not protected by monetary authorities.

COMMITTEE MEMBERS:
Interno - 2374343 - ANDRE LUIS CABRAL DE LOURENCO
Presidente - 2330704 - CASSIANO JOSE BEZERRA MARQUES TROVAO
Externo à Instituição - LEONARDO FLAUZINO DE SOUZA