Abstract: Abstract This chapter begins by tracing the history of the South African banking system. It then discusses the role of banks in economic development and the impact of financialization on the nature of South African credit markets. The South African banks have not supported economic development and productive investment. With financialization, non-financial corporations have taken on more debt to speculate in financial markets whilst fixed investment has suffered. The overall impact of banks has not been supportive of economic development but has increased the indebtedness of working-class households and financial speculation by businesses and affluent households.
Publication Year: 2014
Publication Date: 2014-11-27
Language: en
Type: book-chapter
Indexed In: ['crossref']
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Cited By Count: 2
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