The relationships between the financial sphere and the real economy have been an important theme in theoretical debates since the crisis in the 30s and have been among major concerns in implementing economic policies.

The expansion of financial markets and financial activities in the context of financial globalisation and the new problems resulting from it during the last twenty years have revived this debate. It concerns notably:

–   the link between financial market boom and financial instability;

–   the consequences of the financial market boom on the balance of power among stakeholders involved in the ownership, financing and management of companies and;

–   the impact of financial activity boom on production, and notably on productive investment. More