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Empirical Analysis of an Influence of Financialization on Investment in France

Student: Mikhail Demesh

Supervisor: Ivan V. Rozmainsky

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2020

The paper describes the impact of the process of financialization on real investment on the example of the French economy. The study uses panel data from 1995 to 2019 for 507 non-financial companies in France. The main goal of the work was to build an up to date investment model consistent with the post Keynesian approach the Main feature of this work is the addition of the classical investment model with variables approximating financialization. The work also extends previous approaches to the consideration of investment processes: it uses the theory of the firm's life cycle and the theory of business cycles, which makes it possible to obtain the highest-quality investment model that is relevant for describing investment processes in France today.

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