FESSUD

FESSUD logo

Description

FESSUD is a multidisciplinary, pluralistic project which aims to forge alliances across the social sciences, so as to understand how finance can better serve economic, social and environmental needs.

The FESSUD Project ran for 5 years from 2011 to 2016 and aimed to affect policy makers, representatives of the business sector, the social economy sector, the civil society sector, researchers and citizens based in different EU member states and beyond.

The project was made up of a team of economists and other social scientists from across Europe and South Africa, working at 14 leading universities and one European non-government organisation. It was co-ordinated by the University of Leeds and lead by Professor Malcolm Sawyer. Funding came from the European Commission.

FESSUD brought together expertise from many leading universities to look afresh at how the financial system affects the world around us. We need to know what can be done to make the financial system work for society, the economy and the environment and not – as has sometimes been the case – the other way round.

Some central issues FESSUD aimed to address were: What is financialisation and how has it impacted on the achievement of specific economic, social, and environmental objectives? What is the nature of the relationship between financialisation and the sustainability of the financial system, economic development and the environment? What lessons can be drawn from the crisis about the nature and impacts of financialisation? What are the requisites of a financial system able to support a process of sustainable development, broadly conceived?

The key features of FESSUD

  • The Financialisation, Economy, Society and Sustainable Development (FESSUD) project explores the nature of the relationship between financialisation (the processes of the growth of the importance of financial systems, finance and financial motives) and the sustainability of the financial system, economic and social development and the environment.
  • The nature of national and international financial systems and their evolution in the past three decades are analysed and assessed. The causes and consequences of the global and national financial crises starting in 2007 are thoroughly investigated. Lessons for policy are to be drawn from the financial crisis about the nature and impacts of financialisation.
  • Central issues addressed are the ways in which the growth and performance of economies in the last 30 years have been dependent on the characteristics of the processes of financialisation and how financialisation has impacted on the achievement of economic, social, and environmental objectives. A major feature of FESSUD is its scope of enquiry into the range of economic, social and political consequences from financialisation.
  • The research programme of FESSUD integrates diverse levels, methods and disciplinary traditions with the aim of developing a comprehensive policy agenda for changing the role of the financial system to help achieve a future which is sustainable in environmental, social and economic terms.
  • FESSUD develops policy agendas on the regulation of the financial sector and on macroeconomic policies which would lead to finance better serving economic, social and environmental needs.

The project was split into 12 work packages:

  • WP1 – Management 

  • WP2 – Comparative Perspectives on Financial Systems in the EU 

  • WP3 – Causes and consequences of the financial crisis 

  • WP4 – Regulation of the financial sector 

  • WP5 – Finance and well-being 

  • WP6 – Finance, development and global governance 

  • WP7 – Finance, environment and sustainability 

  • WP8 – Finance, real economy and the State 

  • WP9 – Financial stability and macroeconomic policies 

  • WP10 – Dissemination and impact 

  • WP11 – Foresight 

  • WP12 – Synthesis and conclusions 

Publications and outputs

FESSUD has produced a number of resources including: studies in financial systems; working papers series; briefing notes; research briefs; policy briefs, papers in journals and books, infographics, videos and books.

If you would like to access any of these materials, please email research.lubs@leeds.ac.uk.

Studies in Financial Systems

  • Juuse, E., Kattel, R.: The Estonian Financial System, FESSUD Studies in Financial Systems No. 1, March 2013 
  • Blot, C., Creel, J. (coord.), Delatte, A., Durand, K., Gallois, A., Hubert, P., Le Cacheux, J., Levasseur, S. Viennot, M. : The French Financial System from Past to Present, FESSUD Studies in Financial Systems  No. 2, March 2013 
  • Detzer, D., Dodig, N., Evans, T., Hein, E., Herr, H.: The German Financial System, FESSUD Studies in Financial Systems No. 3, May 2013 
  • Argitis, G., Michopoulou, S.: Financialization and the Greek Financial System, FESSUD Studies in Financial Systems No. 4, April 2013 
  • Gabor, Daniela:  The Romanian Financial System: from central bank-led to dependent financialization,  FESSUD Studies in Financial Systems No. 5, July 2013 
  • Amaya, A., Jesús, F., Catalina, G., Carmen, G., Ana, G., Patricia, P., Carlos, R., Felipe, S.: Report on the Spanish Financial System, FESSUD Studies in Financial Systems No. 6, May 2013 
  • Alfred, J., Jurek,M., Marszałek, P.: Financial System in Poland, FESSUD Studies in Financial Systems No. 7, May 2013 
  • Szikszai, S., Badics, T., Raffai, C., Stenger, Z., Tóthmihály, A.: The Hungarian Financial System, FESSUD Studies in Financial Systems No. 8, May 2013 
  • Lagoa,S., Leão, E., Paes Mamede, R. and Barradas, R.: Report on the financial system in Portugal, FESSUD Studies in Financial Systems No. 9, August 2013 
  • Pollin, R., and Heintz, J.: Study of U.S. Financial System, FESSUD Studies in Financial Systems No. 10, November 2013 
  • Bedirhanoglu, P., Cömert, H., Eren, I., Erol, I., Demiroz, D., Erdem, N., Gungen, A., Marois, Th., Topal, A., Türel, O. Yalman, G., Yeldan, E, Voyoda, E.: Comparative Perspective on Financial System in the EU: Country Report on Turkey, FESSUD Studies in Financial Systems No. 11, October 2013 
  • Consolandi, C., Gabbi, G., Matthias, M., Vozzella, P. The Italian Financial System, FESSUD Studies in Financial Systems No. 12, October 2013 
  • Stenfors, A., Clark, E., Farahani, I., Hansen, A. L., Passarella, M.: The Swedish Financial system, FESSUD Studies in Financial Systems No 13, October 2014 
  • Shabani, M., Tyson, J., Toporowski, J., McKinley, T.: The Financial system in the U.K., FESSUD Studies in Financial Systems No 14, February 2015 
  • Mohamed, M., McKenzie, R., Ndonwi Mfongeh, G., Ncube, P., Strauss, I.: The South African Financial System, FESSUD Studies in Financial Systems No 15, November 2016 
  • Ononugbo, Michael: The Financial System of the Netherlands, FESSUD Studies in Financial Systems No 16 
  • Ononugbo, Michael: The Irish financial system, FESSUD Studies in Financial Systems No 17, February 2015 
  • Detzer, D., Hein, E.: Financialisation and the Financial and Economic Crises: The Case of Germany, FESSUD Studies in Financial Systems No 18, December 2014 
  • Ferreiro, J., Gálvez, C., González, A.: Financialisation and the Financial and Economic Crises: The Case of Spain, FESSUD Studies in Financial Systems No 19, December 2014 
  • Kattel, R., Juuse, E.: Financialisation and the Financial and Economic Crises: The Case of Estonia, FESSUD Studies in Financial Systems No 20, December 2014 
  • Bahçe, S., Cömert, H., Çolak, S., Özgür Orhangazi, N., Özgür, G., Yalman, G.: Financialisation and the Financial and Economic Crises: The Case of Turkey, FESSUD Studies in Financial Systems  No. 21, July 2015 
  • Cornilleau, G., Creel, J.: Financialisation and the Financial and Economic Crises: The Case of France, FESSUD Studies in Financial Systems No 22, December 2014 
  • Gabbi, G., Ticci, E., Vozzella, P.: Financialisation and Economic and Financial Crises: The Case of Italy, FESSUD Studies in Financial Systems No 23, December 2014 
  • Lagoa, S., Leão, E., Mamede, P. R., Barrada, R.: Financialisation and the Financial and Economic Crises: The Case of Portugal, FESSUD Studies in Financial Systems No 24, December 2014 
  • Varoufakis , Y., Leão, E., Tserkezis, L.: Financialization and the Financial and Economic Crises: The Case of Greece, FESSUD Studies in Financial Systems No 25, December 2014 
  • Susan, Newman: Financialisation and the Financial and Economic Crises: The Case of South Africa, FESSUD Studies in Financial Systems No 26, December 2014 
  • Stenfors, Alexis: Financialisation and the Financial and Economic Crises: The Case of Sweden, FESSUD Studies in Financial Systems No 27, December 2014 
  • Shabani, M., Toporowski, J.: Financialisation and the Financial and Economic Crises: The Case of Japan, FESSUD Studies in Financial Systems No 28, April 2015 
  • Dymarski, Wlodzimierz: Financialisation and Economic Crisis: The Case of Poland, FESSUD Studies in Financial Systems No 29, July 2015 
  • Lepper, J., Shabani, M., Toporowski, J., Tyson, J.: Financialisation and the Financial and Economic Crises: The Case of The U.K., FESSUD Studies in Financial Systems No. 30, July 2015 
  • Badics, T., Szikszai, S.: Financialisation and the Financial and Economic Crises: The Case of Hungary, FESSUD Studies in Financial Systems No 31, May 2015 
  • Evans, Trevor: Financialisation and the Financial and Economic Crises: The Case of The U.S.A, FESSUD Studies in Financial Systems No 32, May 2015 
  • Bezemer, D., Muysken, J.: Financialization and the Financial and Economic Crises: The Case of The Netherlands, FESSUD Studies in Financial Systems No 33, May 2015 
  • Guðmundsson, Björn Rúnar: Financialisation and the Financial and Economic Crisis: The Case of Iceland, FESSUD Studies in Financial Systems No. 34, July 2015 

Research briefs

  • Kaltenbrunner, A., Painceira, J.P.: The Financialisation of Emerging Economies: Lessons from Brazil, Research Brief No. 1, October 2016 
  • Mudronova, Jana: The Self-Financing Of Industrial Development In Emerging Markets, Research Brief No. 2, October 2016 
  • Isaacs, Gilad: Financial Liberalisation, Capital Flows and the Developing World, Research Brief No. 3, October 2016 
  • Jump, R., McKinley, T.: Financial Imbalances in the Global Economy: Consequences for Brazil and Indonesia, Research Brief No. 4, October 2016 
  • Isaacs, Gilad: Financialisation and Development: The South African Case Study, Research Brief No. 5, October 2016 
  • Van Waeyenberge, E.: Public Private Partnerships for Development: An Appraisal, Research Brief No. 6, June 2016 
  • Van Waeyenberge, E.: The Private Turn in Development Cooperation, Research Brief No. 7, June 2016 
  • Göksel, A., L. Yalman, Galip: The Impact of the European Union upon a Candidate Country in the Era of Financialisation: The Case of Turkey, Research Brief No. 8, June 2016 
  • Cömert, H., Benlialper, A.: Global Constraints on Central Banking: The Case of Turkey, Research Brief No. 9, June 2016 
  • McKinley, Terry: Projecting China’s Economic and Financial Prospects: Confronting the Challenge of Global Imbalances, Research Brief No. 10, August 2016 

Working paper series: Comparative Perspectives on Financial Systems in the EU (WP2) 

  • Spencer, A., David: Integrating economics with the other human (and related) sciences: some initial considerations, Working Paper Series No. 1, April 2013 
  • Brown, Andrew: Methodological issues in theorising the financial, economic and social system: realistic and systematic abstraction, Working Paper Series No. 3, November 2013 
  • Passarella, Marco : Financial Integration in the European Union: an Analysis of the ECB’s role, Working Paper Series No.4, November 2013 
  • Passarella, M., Sawyer, M.: Financialisation in the circuit, Working Paper Series No. 18, January 2014 
  • Sawyer, M.: Bank-based versus market-based financial systems: a critique of the dichotomy, Working Paper Series No. 19, January 2014 
  • Sawyer, M.: Financial development, financialisation and economic growth, Working Paper Series No. 21, January 2014 
  • Hein, E., Dodig, N., Budyldina, N.: Financial, economic and social systems: French Regulation School, Social Structures of Accumulation and Post-Keynesian approaches compared, Working Paper Series No. 22, February 2014 
  • Sawyer, Malcom: Neo-mercantilism, equality, financialisation and the euro crises, Working Paper Series No. 27, February 2014 
  • Passarella, Marco: The process of financial integration of EU economies, Working Paper Series No. 30, April 2014 
  • Sawyer, Malcom: Finance and industrial strategy, Working Paper Series No. 31, April 2014 
  • Argitis, G., Evans, T., Michell, J., Toporowski, J.: Finance and Crisis: Marxian, Institutionalist and Circuitist approaches, Working Paper Series No. 39, June 2014 
  • Sawyer, Malcolm: Financialisation, financial structures, economic performance and employment, Working Paper Series No. 93, February 2015 
  • Pasotti, P., Vercelli, A.: Kindleberger and Financial Crises, Working Paper Series No. 104, February 2015 
  • Dodig, N., Herr, H.: Theories of finance and financial crisis – Lessons for the Great Recession, Working Paper Series No. 126, September 2015 
  • Brown, A., Veronese Passarella, M., Spencer, D.: The nature and variegation of financialisation: a cross-country comparison, Working Paper Series No 127, November 2015 

Working paper series: Causes and consequences of the financial crisis (WP3) 

  • Hein, E., Dodig, N.: Financialisation, distribution, growth and crises – long-run tendencies, Working Paper Series No. 23, February 2014 
  • Dodig, N., Herr, H.: Previous financial crises leading to stagnation – selected case studies, Working Paper Series No. 24, February 2014 
  • Detzer, D., Herr, H.: Theories of Financial Crises, Working Paper Series No. 25, February 2014 
  • Lagoa, S., Leão, E., Barradas, R.: Risk management, the subprime crisis and financialisation: the role of risk management in the generation and transmission of the subprime crisis, Working Paper Series No. 37, May 2014 
  • Jurek, M., Marszalek, P.:  Subprime mortgages and the MBSs in generating and transmitting the global financial crisis, Working Paper Series No. 40, June 2014 
  • Michell, Jo: Factors generating and transmitting the financial crisis: functional distribution of income, Working Paper Series No. 41, June 2014 
  • Carrasco, C.A., Serrano, F. : Global and European Imbalances: A critical review, Working Paper Series No. 42, July 2014 
  • Szikszai, S., Badics, T.: Enhanced Funds Seeking Higher Returns, Working Paper Series No. 43, June 2014 
  • Evans, Trevor: Factors generating and transmitting the US financial crisis: Overview paper, Working Paper Series No. 45, August 2014 
  • Orhangazi, Özgür:  Financial deregulation and the 2007-08 US financial crisis, Working Paper Series No. 49, August 2014 
  • Varoufakis, Yanis: United States Monetary Policy in the Post-Bretton Woods Era – Did it cause the Crash of 2008?, Working Paper Series No. 50, July 2014 
  • Detzer, D., Hein, E.: Finance-dominated capitalism in Germany – deep recession and quick recovery, Working Paper Series No 54, August 2014 
  • Gabbi, G., Kalbaska, A., Vercelli, A.: Factors generating and transmitting the financial crisis: The role of incentives: securitization and contagion, Working Paper Series No 56, September 2014 
  • Hein, E., Detzer, D.: Finance-dominated capitalism and income distribution: a Kaleckian perspective on the case of Germany, Working Paper Series No 62, September 2014 
  • Raza, H., Gudmundsson, B., Kinsella, S., Zoega, G.: Experiencing financialisation in small open economies: An empirical investigation of Ireland and Iceland, Working Paper Series No 84, January 2015 
  • Lis, Piotr: Relationships between the finance system and housing markets, Working Paper Series No. 99, February 2015 
  • Ruzzenenti, Franco: Changes in the relationship between the financial and real sector and the present economic financial crisis: study of energy sector and market, Working Paper Series No. 105, April 2015  
  • Dodig, N., Hein, E., Detzer, D.: Financialisation and the financial and economic crises: Theoretical framework and empirical analysis for 15 countries, Working Paper Series No. 110, August 2015 
  • Evans, T., Herr, H.: Synthesis of sectoral studies of the currency, energy and residential property markets, Working Papers Series No. 113, September 2015 
  • Hein, Eckhard: Causes and Consequences of the Financial Crisis and the Implications for a More Resilient Financial and Economic System: Synthesis of FESSUD Work Package 3, Working Paper Series No. 128, November 2015 
  • Carrasco, C. A., Ferreiro, J.: An analysis of the determinants of the impact of the Great Recession on the Eurozone countries, Working Paper Series No. 149, February 2016 
  • Ferreiro, J., Galvez, C., Gomez, C., Gonzalez, A.: The impact of the Great Recession on the European Union countries, Working Paper Series No. 150, February 2016 
  • Altuzarra, A., Peinado, P., Rodríguez, C., Serrano, F.: Changes in the relationship between the financial and the real sector and the present financial crisis in the European Union, Working Paper Series No 159, June 2016 
  • Vozzella, P., Gabbi, G., Matthias, M.: Financial Regulation in Italy, Working Paper Series No.60, April 2017 

Working paper series: Regulation of the financial sector (WP4) 

  • Detzer, D.: Financial Market Regulation in Germany – Capital Requirements of Financial Institutions, Working Paper Series No. 26, February 2014 
  • Arestis, P.: Current and Future ECB Monetary Policy, Working Paper Series No.  28, March 2014 
  • Kregel, J. A., Tonveronachi, M.: Fundamental Principles of financial regulation and supervision, Working Paper Series No. 29, March 2014 
  • Detzer, D., Herr, H.: Financial Regulation in Germany, Working Paper Series No 55, September 2014 
  • Juuse, E., Kattel, R.: Financial regulation in Estonia, Working Paper Series No 57, September 2014 
  • Mencinger, J., Juuse, E., Kattel, R.: Financial regulation in Slovenia, Working Paper Series No 58, September 2014 
  • Carbo-Valverde, S., Rodriguez-Fernandez, F.: Financial Regulation in Spain, Working Paper Series No 59, September 2014 
  • Vozzella, P., Gabbi, G., Matthias, M.: Financial Regulation in Italy, Working Paper Series No 60, September 2014 
  • Janc, A., Marszalek, P.: Financial Regulation in Poland, Working Paper Series No 61, October 2014 
  • Badics, J., Miklós Kiss, K., Stenger, Z., Szikszai, S.: Financial Regulation in Hungary, Working Paper Series No 64, September 2014 
  • Blot, C., Creel, J., Delatte, A.L., Labondance, F., Levasseur, S.: Structural evolutions and reforms of the French banking and financial system since the 1980s: Relationship with the legal process of European integration, Working Paper Series No 66, September 2014 
  • Montanaro, Elisabetta: Regulatory experiences in the UK and the Nordik countries: a review of the literature, Working Paper Series No 67, October 2014 
  • Kregel, J., Creel, J., Tonveronachi, M.: Presentation of seven country studies on the impact of implementation of EU Directives on Banking and Finance on national regulatory systems, Working Paper Series No 68, October 2014 
  • Kregel, J.: US Financial Regulation: The Dodd-FrankWall Street Reform and Consumer Protection Act in Current and Historical Perspective, Working Paper Series No 69, October 2014 
  • Boffo, Marco: Avoided “act of vandalism” or “missed opportunity”? Two alternative accounts of the European Financial Transactions Tax proposal, Working Paper Series No 94, February 2014 
  • Tonveronachi, Mario: G20/FSB/BCBS Proposals and their Integration into the European Framework, Working Paper Series No 96, February 2015 
  • Tonveronachi, Mario: A critical assessment of the EU monetary, fiscal and financial regulatory framework and a reform proposal, Working Paper Series No 132, January 2016 
  • Montanaro, Elisabetta: The process towards the centralisation of the European financial supervisory architecture: the case of the Banking Union, Working Paper Series No 133, January 2016 
  • Montanaro, Elisabetta: Central banks and financial supervision: new tendencies, Working Paper Series No 134, January 2016 
  • Sawyer, Malcolm: Taxation of financial activities, Working Paper Series No. 184, November 2016 

Working paper series: Finance and well-being (WP5) 

  • Karacimen, Elif: Dynamics behind the Rise in Household Debt in Advanced Capitalist Countries: An Overview, Working Paper Series No. 9, November 2013 
  • Happer, Catherine: Financialisation, Media and Social Change, Working Paper Series No.10, November 2013 
  • Santos, C. Ana: Financial Literacy, Financialisation and Neoliberalism, Working Paper Series No. 11, November 2013 
  • Churchill, Jennifer: Towards a framework for understanding the recent evolution of pension systems in the European Union, Working Paper Series No.12, December 2013 
  • Saritas, Serap: Review of the pension provisions in the European Union countries, Working Paper Series No.13 
  • Robertson, Mary: Housing Provision, Finance, and Well-Being in Europe, Working Paper Series No. 14, March 2014 
  • Fine, Ben: Towards a Material Culture of Financialisation, Working Paper Series No. 15, December 2013 
  • Santos, A. C., Lopes, C., Costa, V.: FESSUD Finance and Well-being Survey: Report, Working Paper Series No 130, January 2016 
  • Santos, A. C.,Teles, N.: Recent Trends in Household Financial Behaviour, Working Paper Series No 171, November 2016 
  • Santos, A. C., Teles, N., Matias,R., Brown, A., Spencer, D.: Cross-national comparative analysis of household well-being, Working Paper Series No 172, November 2016 
  • Rodrigues, J., Santos, A. C., Teles, N.: Financialisation of Pensions in Europe: Systemic and Variegated Effects in Semi-Peripheral Portugal, Working Paper Series No 175, November 2016 
  • Santos, C. Ana: Financialisation, social provisioning and well-being in five EU countries, Working Paper Series No 176, November 2016 
  • Santos, A. C., Robertson, M.: Definancialising well-being: the case of housing, Working Paper Series No 178, November 2016 
  • Isaacs, Gilad: Alternative forms of finance: A literature review, Working Paper Series No 170, September 2016 
  • Betzelt, S., Santos, A. C., Lopes, C. A.: Financialisation and work: New transdisciplinary insights from micro-level survey data, Working Paper Series No. 181, November 2016 
  • Bayliss, K., Churchill, J., Fine, B., Robertson, M.: Summary report on the impacts of financialisation and of the financial crisis on household well-being, Working Paper Series No. 199, December 2016 
  • Isaacs, Gilad: The commodification, commercialisation and financialisation of low-cost housing in South Africa, Working Paper Series No. 200, November 2016 
  • Bayliss, Kate: Neoliberalised Water in South Africa, Working Paper Series No. 204, December 2016 

Working paper series: Finance, development and global governance (WP6) 

  • Tyson, J., McKinley, T.: Financialization in the Developing world: Mapping the Issues, Working Paper Series No. 38, October 2014 
  • Pitelis, N.C., Anthopoulos, I., Piteli, E.N.E.: Report on scenarios for future global engagement, Working Paper Series No. 95, February 2015 
  • Bonizzi, B., Laskaridis, C., Toporowski, J.: EU Development Policy And The Promotion Of The Financial Sector, Working Paper Series No. 120, September 2015 
  • Bonizzi, B., Laskaridis, C., Toporowski, J.: Developing Countries’ External Debt and International Financial Integration, Working Paper Series No. 121, September 2015 
  • Tserkezis, L., Pitelis, N. C.: The potential role of Sovereign Wealth Funds in the context of the EU crisis, Working Paper Series No. 123, November 2015 
  • Bonizzi, Bruno: The Changing Impact of Finance on Development, Working Paper Series No 124, January 2016 
  • Bonizzi, B., Toporowski, J.: Developing and Emerging Countries as Finance Providers: Foreign Exchange Reserves and Direct Investment to the European Union, Working Paper Series No. 129, January 2016 
  • Pitelis, A. T., Pitelis, C.: New Roles that Key Developing Countries Will Have in the Provision of Finance for Europe, Working Paper Series No. 138, January 2016 
  • Van Waeyenberge, E., Bargawi, H., Financing Economic Development Theoretical Debates and Empirical Trends, Working Paper Series No. 139, March 2016 
  • Van Waeyenberge, Elisa: The private turn in development finance, Working Paper Series No 140, April 2016 
  • Jump, R., McKinley, T.: Financial imbalances in the Global Economy: Consequences for Brazil and Indonesia, Working Paper Series No. 141, September 2016 
  • Isaacs, Gilad: Financialisation and Development: South African Case Study, Working Paper Series No. 142, September 2016 
  • McKinley, Terry: Assessing China’s Economic and Financial Prospects within the Context of Global Imbalances, Working Paper Series No. 144, September 2016 
  • Kaltenbrunner, A., Painceira, J. P.: International and Domestic Financialisation in Middle Income Countries: The Brazilian Experience, Working Paper Series No 146, February 2016 
  • Mudrovna, Jana: The self-financing of industrial development in developing markets, case studies in: Brazil, South Africa, India and China, Working Paper Series No 157, April 2016 
  • Laskaridis, C., Toporowski, J.: Financial sector development in the context of the Franc Zone, Working Paper Series No 158, March 2016 
  • Alves, C., Boufounou, V., Dellis, K., Pitelis, C., Toporowski, J.: Empirical Analysis of New Ways of Global Engagement Working Paper Series No. 163, August 2016 
  • Van Waeyenberge, Elisa: Synthesis Report on Policy Recommendations for New Ways of Global Engagement, Working Paper Series No. 161, November 2016 
  • McKinley, Terry: The impact of financialisation on major emerging economies, Working Paper Series No. 162, October 2016 
  • Shabani, M., Toporowski, J.: Finance theory, crisis and instability, Working Paper Series No. 205, January 2017 

Working paper series: Finance, environment and sustainability (WP7) 

  • Clark, E., Hermele, K.: Financialisation of the environment: A literature review, Working Paper Series No. 32, December 2013 
  • Hermele, Kenneth: Commodity Currencies vs Fiat Money – Automaticity vs Embedment, Working Paper Series No. 44, July 2014 
  • Vercelli, Alessandro: Implications of different understandings of financial crises for divergent conclusions on the connections between finance and sustainability, Working Paper Series No. 46, July 2014 
  • Gabbi, G., Ticci, E.: Implications of financialisation for sustainability, Working Paper Series No. 47, August 2014 
  • Vercelli, Alessandro: Financialisation and Sustainability: a Long-run Perspective, Working Paper Series No. 48, July 2014 
  • Sawyer , M., Fontana, G.: The Macroeconomics and Financial System Requirements for a Sustainable Future, Working Paper Series No. 53, Giuseppe Fontana and Malcolm, August 2014 
  • Borghesi, S., Montini, M.: The allocation of carbon emission permits: theoretical aspects and practical problems in the EU ETS, Working Paper Series No. 75, January 2015 
  • Vercelli, Alessandro: Nuclear and financial meltdowns: the impact of the Fukushima accident on the transition to a low-carbon economy, Working Paper Series No. 76, December 2014 
  • Ruzzenenti, F., Basosi, R.: Case study: Paper on the energy efficiency evolution in the European road freight transport sector, Working Paper Series No. 77, January 2014 
  • Ruzzenenti, F., Papandreou, A.: On the effects of fossil fuel prices on the transition towards a low carbon energy system, Working Paper Series No. 78, February 2015 
  • Di Matteo, M., Ferrini, S., Talia, V.: An analysis of the effect of policies: the case of coal, Working Paper Series No. 80, January 2015 
  • Hermele, Kenneth: How economists understand (or not) the relationship between the real and the financial economy, Working Paper Series No. 82, January 2015 
  • Papandreu, Andreas: The Great Recession and the transition to a low-carbon economy, Working Paper Series No. 88, January 2015 
  • Ruzzenenti, F., Papandreou, A.: On the effects of fossil fuel prices on the transition towards a low carbon energy – Part A, Working Paper Series No. 89, January 2015 
  • Hornborg, Alf: Redesigning Money to Curb Globalization: Can We Domesticate the Root of all Evil?, Working Paper Series No. 91, May 2015 
  • Clark, E., G. Larsen, H., L. Hansen, A.: Financialisation of built environments: A literature review, Working papers series No. 114, September 2015 
  • Hansen, L. A., Larsen, G. H., Grydehøj, A., Clark, E.: Financialisation of the built environment of Stockholm and Copenhagen, Working Paper Series No 115, September 2015 
  • Borghesi, S., Montini, M.: The best (and worst) of air Emission Trading Schemes: comparing the EU ETS with its followers, Working Paper Series No 85, March 2016 
  • Borghesi, S., Montini, M.: Linking Emission Trading Schemes around the world: critical analysis and perspectives, Working Paper Series No 86, April 2016 
  • Vercelli, A., Clark, E., Gouldson, A. : Finance and Sustainability – Synthesis Report of WP7, Working Paper Series No. 166, August 2016 
  • Grydehøj, A. Lund Hansen, A., Topal, A., Clark, E.: Financialisation of Built Environments in Stockholm, Copenhagen, and Ankara: Housing Policy and Cooperative Housing, Working Paper Series No. 167, November 2016 
  • Farahani, I., Clark, E.: Financialisation of built environments: urban governance, social geographies, and sustainability, Working Paper Series No. 168, November 2016 
  • Grydehøj, Adam: The Relationship between Financialisation of the Built Environment, Urban Regeneration and Development, and Urban Sustainability, Working Paper Series No. 183, November 2016 
  • Gabbi, Giampaolo: New Instruments on Energy Commodities and Financialization. Some Deviations from Mainstream Assumptions, Working Paper Series No. 195, November 2016 
  • Gabbi, G., Ticci, E.: Implications of Financialisation for Sustainability, Working Paper Series No.47, April 2017 
  • Di Matteo, M., Ferrini, S., Talia, V.: An Analysis of the Effects of Policies the Case of Coal, Working Paper Series, No.80, April 2017 

Working paper series: Finance, real economy and the State (WP8) 

  • Bayliss, K., Fine, B., Robertson, M.: From Financialisation to Consumption: The systems of provision approach applied to housing and water, Working Paper Series No. 2, August 2013 
  • Jurek, Michal: Report on the structure of ownership in the financial sector across the EU, Working Paper Series No. 16, December 2013 
  • Sawyer, Malcom: Finance and industrial strategy, Working Paper Series No. 31, April 2014 
  • Jurek, Michal: Role and impact of different types of financial institutions on economic performance and stability of the real sector in selected EU member states, Working Paper Series No. 36, May 2014 
  • Robertson, Mary: Case Study: Finance and Housing Provision in Britain, Working Paper Series No. 51, July 2014 
  • Bayliss, Kate: Case Study: The Financialisation of Water in England and Wales, Working Paper Series No 52, July 2014 
  • Jurek, Michał: The genesis and evolution of CSR self-regulation with special reference to the case of financial institutions, Working Paper Series No 70, November 2014 
  • Lagoa, S., Suleman, A.: Types of financial institution and their supply of financial services: the case of microfinance in Europe, Working Paper Series No 72, November 2014 
  • Lagoa, Sérgio: Financial institutions and supply of financial services in the European microcredit market: a survey of selected countries’ experiences, Working Paper Series No 73, November 2014 
  • Santos, C.A., Serra, N., Teles, N.: Finance and Housing Provision in Portugal, Working Paper Series No. 79, January 2015 
  • System of financing innovation activities in the EU countries: Measuring the Impact of the Financial Crisis, Working Paper Series No. 83, January 2015 
  • Tomidajewicz, J. Janusz: The scope and nature of privatisation in the financial sector, Working Paper Series No. 97, March 2015 
  • Lis, Piotr: Financialisation of the system of provision applied to housing in Poland, Working Paper Series No. 100, February 2015 
  • Lis, Piotr: Financialisation of the water sector in Poland, Working Paper Series No. 101, February 2015 
  •  Teles, Nuno: Financialisation and neoliberalism: The case of water provision in Portugal, Working Paper Series No 102, January 2015 
  • Tomidajewicz, J., Janusz: Analysis of the economic behaviour of financial organisations, Working Paper Series No 108, July 2015 
  • Janc, A., Leao, E., Lagoa, S., Marszalek, P.: The role of private non-profit financial institutions in performing particular functions in the economy, Working papers series No. 117, September 2015 
  • Janc, A., Marszalec, P.: Effects of internationalization, privatisation and demutualization of the financial sector on supply of finance and stability, Working Paper Series No. 119, September 2015 
  • Marszalek, Pawel: Internationalization of banks and its influence on economic development and stability, Working Paper Series No 118, September 2015 
  • Anthopoulos, I., Pitelis, C., Liakou, C.: The Nature, Performance and Economic Impact of Sovereign Wealth Funds, Working Paper Series No. 135, January 2016 
  • Anthopoulos, I., Pitelis, C., Mathioudaki, K.: The Nature, Performance, Economic Impact and Regulation of Hedge Funds, Working Paper Series No 136, January 2016 
  • Anthopoulos, I., Pitelis, C.N.: The Nature, Performance, Economic Impact and Regulation of Investment Banking, Working Paper Series No. 137, February 2016 
  • Çelik, O., Topal, A., Yalman, G.: Finance and System of Provision of Housing: The Case of Istanbul, Turkey, Working Paper Series No 152, April 2016 
  • Yilmaz, G., Çelik, O.: Finance and System of Provision of Water : The Case of Istanbul, Working Paper Series No 153, April 2016 
  • Bayliss, K., Fine, B., Robertson, M.: The Role of the State in Financialised Systems of Provision: Social Compacting, Social Policy, and Privatisation, Working Paper Series No 154, April 2016 
  • Fine, B., Saad-Filho, A., Bayliss, K., Robertson, M.: Thirteen Things You Need to Know about Neoliberalism, Working Paper Series No 155, April 2016 
  • Fine, B., Bayliss, K., Robertson, M.: Housing and Water in Light of Financialisation and “Financialisation”, Working Paper Series No 156, April 2016 
  • Consolandi, C., Cupertino, S.: Financialisation and Corporate Social Responsibility in the EU non-financial sector, Working Paper Series No. 179, November 2016 
  • Consolandi, C., Cupertino, S., Vercelli, A.: CSR and corporate sustainability. Theory and policy implications, Working Paper Series No. 180, November 2016 
  • Marszałek, Paweł: Local money systems and their features, Working Paper Series No. 188, November 2016 
  • Fine, B., Bayliss, K.: Paper on Theoretical Framework for Assessing the Impact of Finance on Public Provision, Working Paper Series No. 192, December 2016 
  • Robertson, Mary: The System of Provision for Housing in Selected Case Study Countries, Working Paper Series No. 193, December 2016 
  • Bayliss, Kate: The System of Provision for Water in Selected Case Study Countries, Working Paper Series No. 194, December 2016 
  • Sawyer, Malcolm: Concept paper on effects of finance on industry under different financial systems, Working Paper Series No. 185, November 2016 
  • Sawyer, Malcolm: Synthetic paper on the effects of different financial systems on economic performance, Working Paper Series No. 186, November 2016 
  • Dymarski, Włodzimierz: Relationship between the financial system and the real economy from a perspective of the systems theory, Working Paper Series No. 202, November 2016 

Working paper series: Financial stability and macroeconomic policies (WP9) 

  • Notermans, Ton: Reforming Finance: A Literature Review, Working Paper Series No. 8, December 2013 
  • Hubert, P., Viennot, M.: The Monetary transmission mechanism in France: effects of the policy interest rate on bank interest rates and credit conditions , Working Paper Series No.  17, February 2013 
  • Sawyer, Malcom: Neo-mercantilism, equality, financialisation and the euro crises, Working Paper Series No. 27, February 2014 
  • Blot, C., Creel, J., Hubert, P., Labondance, F., Saraceno, F.: Assessing the Link between Price and Financial Stability, Working Paper Series No 33, May 2014 
  • Creel, J., Hubert, P., Viennot, M.: Assessing the Interest Rate and Bank Lending Channels of ECB Monetary Policies, Working Paper Series No 34, May 2014 
  • Creel, J., Hubert, P., Labondance, F.: Financial Stability and Economic Performance, Working Paper Series No 35, July 2014 
  • Hein, E., Detzer, D.: Coping with imbalances in the Euro area: Policy alternatives addressing divergences and disparities between member countries, Working Paper Series No 63, September 2014 
  • Rodríguez, C., Carrasco, C. A.: ECB Policy Responses between 2007 and 2014: a chronological analysis and a money quantity assessment of their effects, Working Paper Series No 65, September 2014 
  • Carrasco, C., Peinado, P.: On the origin of European imbalances in the context of European integration, Working Paper Series No 71, October 2014 
  • Dodig, N., Herr, H.: EU policies addressing current account imbalances in the EMU: an assessment, Working Paper Series No 74, January 2015 
  • Argitis, Giorgos: Alternative Monetary Policy and Central Banking, Working Paper Series No. 90, January 2015 
  • Ferreiro, J., Gálvez, C., Gonzáles, A.: Fiscal policies in the European Union during the crisis, Working Paper Series No. 92, February 2015 
  • Juuse, E., Kattel, R.: Implications of the Transformation of the State-Owned Banking System into System of Foreign-Owned Banks in New Member States for Macroeconomic and Financial Stability, Working Paper Series No. 103, February 2015 
  • Blot, C., Creel, J.: A taxonomy of good and bad policies during financial crises, Working Paper Series No. 106, May 2015 
  • Serrano, F., Altuzarra, A.: Survey on economic policies during the crisis, Working Paper Series No. 107, April 2015 
  • Voyvoda , E., Yeldan, E.: Aspects of Fiscal Policy in Turkey, Working Paper Series No. 109, July 2015 
  • Benlialper, A., Cömert, H.: Global Constraints on Central Banking: The Case of Turkey, Working Paper Series No 111, July 2015 
  • Jurek, M., Marszalek, P.: Policy alternatives for the relationship between ECB monetary and financial policies and new member states, Working Paper Series No. 112, September 2015 
  • Hubert, Paul: The effect of interest rate and communication shocks on private inflation expectations, Working Paper Series No 122, September 2015 
  • Gabor, Daniela: Our currency, our banks, your problem: On the ECB’s relationship with New Member States during and immediately after the crisis, Working Paper Series No 125, September 2016 

Working paper series: Foresight (WP11)

  • Bayliss, Kate: The Financialisation of Health in England: Lessons from the Water Sector, Working Paper Series No 131, February 2016 
  • Detzer, Daniel: Financialisation, Debt and Inequality – scenarios based on a stock flow consistent model, Working Paper Series No 151, April 2016 
  • Ferreiro, J., Gómez, C., Landeta, J.: The Future Expansion and Proliferation of Finance, Working Paper Series No. 160 
  • Kregel, Jan: The Regulatory Future, Working Paper Series No 164, June 2016 
  • Rodrigues, J., Santos, A. C., Teles, N.: Finance and economic and social reproduction: prospects for financialised futures in Portugal, Working Paper Series No 173, November 2016 
  • Teles, Nuno: Prospects for financialised water provision: Going beyond public/private ownership debates, Working Paper Series No 177, November 2016 
  • Fontana, Giuseppe: Mapping the Future of Financialisation: Key Challenges for a Foresight Analysis, Working Paper Series No. 182, November 2016 
  • Bayliss, K., Fine, B.: Finance and economic and social reproduction: Origins of the present and implications for the future, Working Paper Series No. 189, December 2016 
  • Fontana, Giuseppe: On the future of financialisation: Some lessons from FESSUD foresight analyses, Working Paper Series No.207, December 2016 

Working paper series: Synthesis and Conclusions (WP12) 

  • Sawyer , M., Fontana, G.: The Macroeconomics and Financial System Requirements for a Sustainable Future, Working Paper Series No. 53, Giuseppe Fontana and Malcolm, August 2014 
  • Herr, Hansjörg: : After the Financial Crisis: Reforms and Reform Options for Finance, Regulation and Institutional Structure, Working Paper Series No 148, February 2016 
  • Ferreiro, Jesús: Macroeconomic and financial sector policies to better serve the economy and society, Working Paper Series No 165, August 2016 
  • Santos, C. Ana: Transdisciplinary research: reflections on the study of finance and well-being, Working Paper Series No 174, November 2016 
  • Fine, Ben: The Endemic and Systemic Malaise of Mainstream Economics, Working Paper Series No. 190, December 2016 
  • Fine, B., Bayliss, K., Robertson, M.: From Financialisation to Systems of Provision, Working Paper Series No. 191, December 2016 
  • Fontana, G., Veronese Passarella, M.: Aggregate Demand, Money and Finance in the New Consensus Macroeconomics: a Critical Appraisal, Working Paper Series No. 198, November 2016 
  • Sawyer, M: Financialisation, Economy, Society and Sustainable Development An Overview, Working Paper Series No.206, April 2017 

Books

  • Financialisation and the Financial and Economic Crises was edited by FESSUD researchers Eckhard Hein, Daniel Detzer and Nina Dodig, Berlin School of Economics and Law, Germany. 
  • “The Demise Of Finance-Dominated Capitalism Explaining the Financial and Economic Crises“, the new FESSUD book co-edited by Eckhard Hein, Daniel Detzer and Nina Dodig from the Berlin School of Economics and Law, has recently been published under the New Directions in Modern Economics series, by Edward Elgar. 
  • FESSUD researcher and associate Professor in the Poznan University of Economics (POL), Michal Jurek, has just released a book entitled “The Structure of Ownership in the Financial Sector across the European Union”. 
  • “Financial Regulation in the European Union” by Rainer Kattel, Jan Kregel and Mario Tonveronachi 

Briefing notes

  • No. 1: The operation of budgets constraints in the Euroarea
  • No. 2: Fiscal policies in the European Union before and after the financial crisis
  • No. 3: Current Account Imbalances and the Economic and Monetary Union
  • No. 4: ‘Structural reforms’ and the euro crisis
  • No. 5: Unemployment insurance and the economic and monetary union
  • No. 6: Deconstructing the euro?

Policy briefs

  • No. 1 – The process of financialisation
  • No. 2 – Structures of ownership in the financial sector
  • No. 3 – EU financial integration and the role of the European Central Bank
  • No. 4 – Making the European Union a viable construction
  • No. 5 - Banking risk in France, Germany and Spain
  • No. 6 – Regime changes in the course of the crisis: tendencies towards mercantilism and economic policy changes
  • No. 7 – The effects of the crisis on the convergence/divergence in the Euro area
  • No. 8 – Policies for rebalancing China’s economy and their global impact
  • No. 9 – A proposal for voluntary degrowth by redesigning money for sustainability, justice and resilience
  • No. 10 – A European Union sustainable banking network

Infographics

  • The future of finance
  • Financialisation and well-being
  • Causes and consequences of the financial crisis