Financial globalization and development

Financialization typically refers to the growing influence and power of financial markets, intermediaries like investment bank and credit bureaus, and financial processes in the organization of contemporary global capitalism. Financialization has been considered an endemic component of long-term capitalist development, although it is closely associated with contemporary financial globalization and neoliberal capitalism. The rise of neoliberal economic policies directed at liberalizing capital and deregulating financial intermediaries and markets in the 1970s to the 1990s is typically attributed to precipitating the contemporary process of financial globalization and increasing uneven development.