1887

OECD Journal: Financial Market Trends

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The articles in Financial Market Trends focus on trends, structural issues and developments in financial markets and the financial sector.

English

Financial risks in the low-growth, low-interest rate environment

The current post-crisis economic and financial landscape has been characterised by rising asset prices – driven by record low interest rates and easy monetary policy – and low productive investment by firms in advanced countries. The OECD Business and Finance Outlook 2015 examines this situation and looks at the way in which companies, banks, institutional investors and shadow banking entities are operating in the low-growth and low-interest rate environment and explores the build-up of risks in the financial system. The “promises” of growth, employment, and adequate retirement income are seen to be at risk in the absence of policy actions. These issues were also discussed at a launch event of that publication, a summary of which is presented in this article.

JEL classification: E2, E4, E5, F21, F23, G1, G2.

Keywords: financial system, financial crisis, asset prices, financial institutions, institutional investors, shadow banking, pension systems, retirement income, financial education.

English

JEL: F23: International Economics / International Factor Movements and International Business / Multinational Firms; International Business; E5: Macroeconomics and Monetary Economics / Monetary Policy, Central Banking, and the Supply of Money and Credit; G1: Financial Economics / General Financial Markets; E2: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy; F21: International Economics / International Factor Movements and International Business / International Investment; Long-term Capital Movements; G2: Financial Economics / Financial Institutions and Services; E4: Macroeconomics and Monetary Economics / Money and Interest Rates
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