The Phenomenon of Financialization in International Comparisons

The article presents the results of empirical research on comparisons of the phenomenon of financialization internationally. The research aims to find out whether financialization is a universal phenomenon and looks similar in different European countries, and if not, whether it is possible to speak then about groups of countries where financialization is similar to each other. The extent of financialization was calculated based on 6 measures of financialization, selected based on an analysis of the literature on the subject. When comparing financialization in different countries, reference was made to median financialization indices, and correspondence analysis (CA) was used to find groups of countries with similar sizes of financialization. The study used data from Eurostat andOECD databases, and calculations were made using the R software package and an Excel spreadsheet.