Connotation,performance And Consequence Of Excessive Financialization Of Economy

Since the 1980 s,economic financialization has become one of the most important phenomena in the world economic and social changes.For a long time,all sectors of society have maintained a more positive view on economic financialization.However,the financial crisis in 2008 triggered a strong reflection on the financialization of the economy.Among them,Chinese scholars put forward the concept of "excessive financialization of economy".Up to now,although the issues related to excessive financialization of economy have been widely discussed,the academic circle has not reached some general consensus in this research field,and there is even no special definition of this concept in literature.Therefore,by sorting out relevant research materials in detail,this paper has clearly sorted out key research issues related to excessive financialization of economy in the current academic circle.First,excessive financialization of economy refers to a process and phenomenon in which financial development exceeds a certain limit and damages economic and social development;Second,excessive financialization of economy manifests itself in the two aspects of macro economy and micro non-financial enterprises;Thirdly,excessive financialization of economy is a widespread social problem,and its consequences are divided into five aspects:economic impact,social differentiation,daily life,political impact and ethical value;Fourthly,the academic circles believe that China’s financial development has both obvious trend of excess and structural deficiencies.Finally,this paper summarizes and discusses the research in this field on the basis of sorting out the above contents.The author thinks that: First,we should carry out in-depth discussion on the financial "value" on the basis of analyzing the experience and reality,so as to correctly guide the development of industrial structure;Second,we can pay attention to the relationship between financial industry and real industry and dialectically treat the problem of economic financialization;Third,we should enrich the theoretical basis and explore the "degree" of financial development;Fourthly,the development of financial sociology can provide a whole and comprehensive research perspective for the study of excessive financialization of economy.