Financiamiento, financiarización y problemas del desarrollo

Abstract

This paper revises the different heterodox approaches on finance which differentiate the production processes and the investment finished goods, taking into account the different financial structures of developed and developing economies. The article's views of Keynes, the circuitists, and Kalecki on debt creation and debt destruction are revised, as well as the role of profit recirculation and the forms they adopt in developing countries. The discussion includes the effects of the financialization era on production and investment finance.