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. The rise of neoliberal economic policies directed at liberalizing capital and deregulating financial markets in the 1970s to the 1990s is typically attributed to precipitating the contemporary process of financial globalization and increasing uneven development. Key players supporting financial globalization include the international financial institutions of the international monetary fund (IMF) and the world bank group. As a process of institutional transformation,research on financialization must identify the agents of financialization,the mechanism used in reproducing financialization across global market itself and the systems of power underlying contemporary financial institutions.